Blockchain-based transaction mechanisms

ABSTRACT

A method for implementing a set of transaction mediums dedicated to a common commitment includes obtaining a set of transaction mediums at a first networked transaction node. The method also includes individually transacting each of the transaction mediums to a second networked transaction node in a first transaction. The method further includes individually, separately and uniquely marking each of the transaction mediums with a first identifiable characteristic limited only to the set of transaction mediums.

CROSS-REFERENCE T0 RELATED APPLICATION

This U.S. nonprovisional patent application claims the benefit ofpriority to Provisional U.S. Patent Application No. 62/963,907, filed onJan. 21, 2020 in the United States Patent and Trademark Office, thecontents of which are herein incorporated by reference in theirentirety.

BACKGROUND

A blockchain is an evolving set of individual records built in linkedblocks that are progressively added using cryptography as the blockchainevolves. Versions of the blockchain are maintained at each of multipleblockchain transaction nodes in a blockchain network so that a record ofeach individual transaction to be recorded in a next block to be addedis distributed to each networked transaction node in the blockchainnetwork. Each networked transaction node maintains a version of theblockchain and adds the transactions to the next block to be added tothe blockchain before adding the block to the blockchain usingcryptography when the next block is ready to be added. The versions ofthe blockchain maintained at the different blockchain transaction nodesare a form of distributed ledger. Each block of the blockchain mayinclude records of multiple transactions. The blockchain is designed tobe resistant to modification of the records of the transactions insofaras the versions of the blockchain are maintained at different blockchaintransaction nodes, and by design the transactions are rendered resistantto repudiation.

Blockchain technology has rapidly evolved since the Bitcoin blockchainprotocol was introduced in a paper published in October 2008 under thepseudonym Satoshi Nakamoto. Since 2008, numerous additional blockchaintransaction protocols have been developed. A blockchain transactionprotocol may define a electronic coin as a blockchain transaction mediumthat is the basic unit of currency for transactions recorded in ablockchain network. Under some blockchain transaction protocols,electronic tokens may be created as derivative blockchain transactionmediums that are based on one or more electronic coins.

FIG. 1A illustrates a known process for adding a transaction to ablockchain in a blockchain network. In FIG. 1A, a first user device 105transacts a electronic coin or electronic token to a second user device115 in a transaction at S101. At S102, the second user device 115notifies a blockchain network 150 to add the transaction to the newestblock 113 of the blockchain 199. The newest block 113 is added to theblockchain 199 based on the notification from S102. In alternative knownprocesses, the first user device 105 may notify the blockchain network150 of the transaction at S102, or both the first user device 105 andthe second user device 115 may both notify the blockchain network 150 ofthe transaction at S102. In FIG. 1A, the blockchain network 150 mayinclude multiple blockchain transaction nodes that each maintain aversion of the blockchain 199.

FIG. 1B illustrates a known blockchain network for adding a transactionto a blockchain in FIG. 1A. In FIG. 1B, the blockchain network 150includes five blockchain transaction nodes including a first blockchaintransaction node 110, a second blockchain transaction node 120, a thirdblockchain transaction node 130, a fourth blockchain transaction node140, and a fifth blockchain transaction node 160. In FIG. 1B, the fiveblockchain transaction nodes in the blockchain network 150 distributerecords of transactions so that the versions of the blockchain 199maintained by each blockchain transaction node are updated to includeeach transaction. At S103, the first blockchain transaction node 110adds the transaction to the newest block 113 of the version of theblockchain 199 maintained by the first blockchain transaction node 110.At S104, the first blockchain transaction node 110 notifies the secondblockchain transaction node 120 to add the transaction to the newestblock 113 of the version of the blockchain 199 maintained by the secondblockchain transaction node 120. At S106, the second blockchaintransaction node 120 adds the transaction to the newest block 113 of theversion of the blockchain 199 maintained by the second blockchaintransaction node 120. At S107, the second blockchain transaction node120 notifies the third blockchain transaction node 130 to add the newestblock 113 of the version of the blockchain 199 maintained by the thirdblockchain transaction node 130. At S108, the third blockchaintransaction node 130 adds the transaction to the newest block 113 of theversion of the blockchain 199 maintained by the third blockchaintransaction node 130. At S109, the third blockchain transaction node 130notifies the fourth blockchain transaction node 140 to add the newestblock 113 of the version of the blockchain 199 maintained by the fourthblockchain transaction node 140. At S111, the fourth blockchaintransaction node 140 adds the transaction to the newest block 113 of theversion of the blockchain 199 maintained by the fourth blockchaintransaction node 140. At S112, the fourth blockchain transaction node140 notifies the fifth blockchain transaction node 160 to add the newestblock 113 of the version of the blockchain 199 maintained by the fifthblockchain transaction node 160. At S114, the fifth blockchaintransaction node 160 adds the transaction to the newest block 113 of theversion of the blockchain 199 maintained by the fifth blockchaintransaction node 160.

Blockchain-based transaction mechanisms have not yet been fullydeveloped, and some types of existing business practices such as the useof securities have not been fully adapted to blockchain. For example,attempts to adapt blockchain to existing business practices are oftentied to development of a specific blockchain protocol. However,mechanisms for uniquely creating sets of blockchain transaction mediumssuch as from a pool of existing blockchain transaction mediums, trackingownership of the sets of blockchain transaction mediums, and providingincome streams to owners of the sets of blockchain transaction mediums,have not been fully developed.

BRIEF DESCRIPTION OF THE DRAWINGS

The example embodiments are best understood from the following detaileddescription when read with the accompanying drawing figures. It isemphasized that the various features are not necessarily drawn to scale.In fact, the dimensions may be arbitrarily increased or decreased forclarity of discussion. Wherever applicable and practical, like referencenumerals refer to like elements.

FIG. 1A illustrates a known process for adding a transaction to ablockchain in a blockchain network.

FIG. 1B illustrates a known blockchain network for adding a transactionto a blockchain in FIG. 1A.

FIG. 2A illustrates a transaction network for blockchain-basedtransaction mechanisms, in accordance with a representative embodiment.

FIG. 2B illustrates another transaction network for blockchain-basedtransaction mechanisms, in accordance with a representative embodiment.

FIG. 2C illustrates a user device in a transaction network forblockchain-based transaction mechanisms, in accordance with arepresentative embodiment.

FIG. 2D illustrates a transaction flow for blockchain transactionmediums using the transaction network for blockchain-based transactionmechanisms of FIG. 2B, in accordance with a representative embodiment.

FIG. 2E illustrates a blockchain network in the transaction network forblockchain-based transaction mechanisms in FIG. 2A and the transactionnetwork for blockchain-based transaction mechanisms in FIG. 2B, inaccordance with a representative embodiment.

FIG. 2F illustrates a blockchain transaction node in the blockchainnetwork in the transaction network in FIG. 2E, in accordance with arepresentative embodiment.

FIG. 2G illustrates another transaction flow for blockchain transactionmediums using the transaction network for blockchain-based transactionmechanisms of FIG. 2B, in accordance with a representative embodiment.

FIG. 3 illustrates a computer system, on which a method for implementingblockchain-based transaction mechanisms is implemented, in accordancewith another representative embodiment.

FIG. 4A illustrates a process flow for blockchain-based transactionmechanisms, in accordance with another representative embodiment.

FIG. 4B illustrates another process flow for blockchain-basedtransaction mechanisms, in accordance with another representativeembodiment.

FIG. 4C illustrates another process flow for blockchain-basedtransaction mechanisms, in accordance with another representativeembodiment.

FIG. 4D illustrates another process flow for blockchain-basedtransaction mechanisms, in accordance with another representativeembodiment.

FIG. 4E illustrates another process flow for blockchain-basedtransaction mechanisms, in accordance with another representativeembodiment.

FIG. 5 illustrates a method for marking blockchain-based transactionmechanisms, in accordance with a representative embodiment.

FIG. 6 illustrates a method for selecting blockchain-based transactionmechanisms, in accordance with a representative embodiment.

FIG. 7A illustrates a timeline for implementing blockchain-basedtransaction mechanisms, in accordance with a representative embodiment.

FIG. 7B illustrates another timeline for implementing blockchain-basedtransaction mechanisms, in accordance with a representative embodiment.

FIG. 7C illustrates another timeline for implementing blockchain-basedtransaction mechanisms, in accordance with a representative embodiment.

FIG. 8A illustrates another transaction network for blockchain-basedtransaction mechanisms, in accordance with a representative embodiment.

FIG. 8B illustrates another transaction network for blockchain-basedtransaction mechanisms, in accordance with a representative embodiment.

FIG. 9 illustrates another transaction network for blockchain-basedtransaction mechanisms, in accordance with a representative embodiment.

FIG. 10A illustrates an arrangement for transaction reporting forblockchain-based transaction mechanisms, in accordance with arepresentative embodiment.

FIG. 10B illustrates another arrangement for transaction reporting forblockchain-based transaction mechanisms, in accordance with arepresentative embodiment.

FIG. 10C illustrates another arrangement for transaction reporting forblockchain-based transaction mechanisms, in accordance with arepresentative embodiment.

FIG. 11 illustrates a method for tracking blockchain-based transactionmechanisms, in accordance with a representative embodiment.

FIG. 12 illustrates a wallet user interface for blockchain-basedtransaction mechanisms, in accordance with a representative embodiment.

FIG. 13 illustrates a method for transacting a set of blockchaintransaction mediums dedicated to a common commitment, in accordance witha representative embodiment.

FIG. 14 illustrates a method for tracking ownership of a set ofblockchain transaction mediums dedicated to a common commitment, inaccordance with a representative embodiment.

FIG. 15 illustrates a wallet user interface displaying transactionrecords for blockchain-based transaction mechanisms, in accordance witha representative embodiment.

FIG. 16 illustrates another process flow for blockchain-basedtransaction mechanisms, in accordance with another representativeembodiment.

FIG. 17 illustrates a royalty arrangement for blockchain-basedtransaction mechanisms, in accordance with another representativeembodiment.

FIG. 18 illustrates a hybrid token pool and timeline for the token poolfor blockchain-based transaction mechanisms, in accordance with anotherrepresentative embodiment.

DETAILED DESCRIPTION

In the following detailed description, for the purposes of explanationand not limitation, representative embodiments disclosing specificdetails are set forth in order to provide a thorough understanding of anembodiment according to the present teachings. Descriptions of knownsystems, devices, materials, methods of operation and methods ofmanufacture may be omitted so as to avoid obscuring the description ofthe representative embodiments. Nonetheless, systems, devices, materialsand methods that are within the purview of one of ordinary skill in theart are within the scope of the present teachings and may be used inaccordance with the representative embodiments. It is to be understoodthat the terminology used herein is for purposes of describingparticular embodiments only and is not intended to be limiting. Thedefined terms are in addition to the technical and scientific meaningsof the defined terms as commonly understood and accepted in thetechnical field of the present teachings.

It will be understood that, although the terms first, second, third etc.may be used herein to describe various elements or components, theseelements or components should not be limited by these terms. These termsare only used to distinguish one element or component from anotherelement or component. Thus, a first element or component discussed belowcould be termed a second element or component without departing from theteachings of the inventive concept.

The terminology used herein is for purposes of describing particularembodiments only and is not intended to be limiting. As used in thespecification and appended claims, the singular forms of terms ‘a’, ‘an’and ‘the’ are intended to include both singular and plural forms, unlessthe context clearly dictates otherwise. Additionally, the terms“comprises”, and/or “comprising,” and/or similar terms when used in thisspecification, specify the presence of stated features, elements, and/orcomponents, but do not preclude the presence or addition of one or moreother features, elements, components, and/or groups thereof. As usedherein, the term “and/or” includes any and all combinations of one ormore of the associated listed items.

Unless otherwise noted, when an element or component is said to be“connected to”, “coupled to”, or “adjacent to” another element orcomponent, it will be understood that the element or component can bedirectly connected or coupled to the other element or component, orintervening elements or components may be present. That is, these andsimilar terms encompass cases where one or more intermediate elements orcomponents may be employed to connect two elements or components.However, when an element or component is said to be “directly connected”to another element or component, this encompasses only cases where thetwo elements or components are connected to each other without anyintermediate or intervening elements or components.

The present disclosure, through one or more of its various aspects,embodiments and/or specific features or sub-components, is thus intendedto bring out one or more of the advantages as specifically noted below.For purposes of explanation and not limitation, example embodimentsdisclosing specific details are set forth in order to provide a thoroughunderstanding of an embodiment according to the present teachings.However, other embodiments consistent with the present disclosure thatdepart from specific details disclosed herein remain within the scope ofthe appended claims. Moreover, descriptions of well-known apparatusesand methods may be omitted so as to not obscure the description of theexample embodiments. Such methods and apparatuses are within the scopeof the present disclosure.

As described herein, blockchain transaction mediums may be dedicated fora singular use or type of use, whether the blockchain transactionmediums are originally created for such a singular use or type of use orwhether the blockchain transaction mediums are modified or otherwiseadapted from existing blockchain transaction mediums that are already inuse for the singular use or type of use. In the descriptions herein, thesingular use or type of use is primarily described as electronicallytransactable proof of ownership of a security such as a royalty-basedsecurity that defines rights to royalty payments. The blockchaintransaction mediums may be distributed to individuals committed to acommon task or purpose as a common commitment in a manner that makes theblockchain transaction mediums isolated and isolatable from similarblockchain transaction mediums in a larger general pool of blockchaintransaction mediums.

In the descriptions below, several terms are used repeatedly and shouldbe interpreted consistently. Accordingly, for the purposes of thepresent description, exemplary explanations are provided for the severalterms as follows:

Blockchain—As the term is used herein, “blockchain” may mean adistributed set of records which are separately maintained at each ofmultiple blockchain network nodes so that any particular record in theset can be confirmed by consensus among the multiple blockchain networknodes.

Block—As the term is used herein, a “block” may mean a subset of ablockchain which is added once enough new records are accumulated tomeet the definition of a block according to the relevant blockchainprotocol.

Blockchain transaction medium—As the term is used herein, a “blockchaintransaction medium” may mean either a electronic coin or a electronictoken derived from one or more electronic coins.

Dedicate/dedicating—As the terms are used herein, “dedicate” and“dedicating” may mean putting a blockchain transaction medium to use fora particular purpose distinguishable from other purposes for which theblockchain transaction medium may be put to use.

Coin—As the term is used herein, a “coin” may mean the fundamental unitof currency for transactions according to the relevant blockchainprotocol.

Token—As the term is used herein, a “token” may mean a derivative of acoin defined according to the relevant blockchain protocol.

Transacting—As the term is used herein, “transacting” may mean engagingin a transaction between two entities, typically using twocommunications devices connected over an electronic network.

Unique Marking—As the term is used herein, a “unique marking” may mean aunique characteristic provided in, on, to or for a blockchaintransaction medium that uniquely marks the blockchain transaction mediumas belonging to a dedicated set of blockchain transaction mediums.

Identifiable Characteristic—As the term is used herein, an “identifiablecharacteristic” may mean a characteristic added in, on, to or for ablockchain transaction medium that can be used to readily identify theblockchain transaction medium in a way that uniquely identifies theblockchain transaction medium as belonging to a dedicated set ofblockchain transaction mediums.

Contributor node—As the term is used herein, a “contributor node” maymean a grouping of individuals at and/or for an organization, committedto the same purpose in common and entitled to returns generated fromfulfilling the purpose.

Networked transaction node—As the term is used herein, a “networkedtransaction node” may mean a system controlled by a specific individual,connected to other similar systems over an electronic network, andconfigured to perform or enable performance of transactions with theother similar systems.

FIG. 2A illustrates a transaction network for blockchain-basedtransaction mechanisms, in accordance with a representative embodiment.

In FIG. 2A, the transaction network 200 includes a blockchain network250 and a set of user devices including a first user device 205 and asecond user device 215. The set of user devices in FIG. 2A maycommunicate over electronic communications networks such as theinternet. Additionally, the set of user devices in FIG. 2A maycommunicate with blockchain transaction nodes in the blockchain network250. The blockchain transaction nodes in the blockchain network 250 mayalso communicate over the one or more electronic communications networkssuch as the internet. Electronic communications networks by which theset of user devices and the blockchain transaction nodes in theblockchain network 250 in FIG. 2A communicate may be wired or wireless.

The transaction network 200 in FIG. 2A may be coordinated as a whole toperform functions described herein. For example, the first user device205 and the second user device 215 may be individually programmed toperform coordinated functionality described herein. Additionally oralternatively, as shown in and described with respect to FIG. 9, acentral controller such as the central controller 995 in FIG. 9 (e.g., aserver) may coordinate the functionality of the set of user devices inFIG. 2A. While the transaction network 200 is shown with a set of twouser devices, a set of user devices in the transaction network 200 inFIG. 2A may include more than two user devices. For example,transactions between hundreds of user devices in the transaction network200 may be coordinated in the manner described herein.

Each of the set of user devices in FIG. 2A may include a memory thatstores instructions and a processor that executes the instructions asshown in and described with respect to the first user device 205detailed in FIG. 2C. Additionally, each of the set of user devices inFIG. 2A may include some or all of the additional elements of a computersystem 300 as shown in and described with respect to FIG. 3. Examples ofthe set of user devices in FIG. 2A include smartphones, tabletcomputers, laptop computers, desktop computers, or other types ofelectronic devices configured to execute instructions and communicateover electronic communications networks. The set of user devices in FIG.2A may conduct transactions and generate transaction records that arethen provided to the blockchain transaction nodes in the blockchainnetwork 250 for inclusion in the next block of the versions of theblockchain 299 maintained by each blockchain transaction node.Alternatively, the set of user devices in FIG. 2A may generatetransaction information used by the blockchain transaction nodes in theblockchain network 250 to generate transaction records for inclusion inthe next block of the versions of the blockchain 299 maintained by eachblockchain transaction node.

Networked transaction nodes described herein may each include one of theset of user devices in FIG. 2A. For example, a first networkedtransaction node may include the first user device 205 and affiliateddevices connected to the first user device 205 such as a monitor and/ora printer. A second networked transaction node may include the seconduser device 215 and affiliated devices connected to the second userdevice 215.

Each of the blockchain transaction nodes in the blockchain network 250in FIG. 2A (and FIG. 2B described below) may include a memory thatstores instructions and a processor that executes the instructions asshown in and described with respect to the first blockchain transactionnode 210 detailed in FIG. 2F. Additionally, each of the blockchaintransaction nodes in the blockchain network 250 in FIG. 2A (and FIG. 2B)may include some or all of the additional elements of a computer system300 as shown in and described with respect to FIG. 3. Examples of theblockchain transaction nodes include servers, desktop computers, orother types of electronic devices configured to execute instructions andcommunicate over electronic communications networks. The blockchaintransaction nodes may be expected to be contactable most or all of thetime given the potential to receive transaction information and/ortransaction records from a set of user devices at any time. Blockchaintransaction nodes may be virtualized, and therefore implemented bydistributed functionality provided by multiple computers (e.g., servers)in the cloud, such as at one or more data centers. The blockchaintransaction nodes in the blockchain network 250 in FIG. 2A (and FIG. 2B)may receive transaction records from the set of user devices forinclusion in the next block of the version of the blockchain 299maintained by each blockchain transaction node. Alternatively, theblockchain transaction nodes in the blockchain network 250 in FIG. 2A(and FIG. 2B) may receive transaction information from the set of userdevices and generate transaction records based on the receivedtransaction information for inclusion in the next block of the versionof the blockchain 299 maintained by each blockchain transaction node.Accordingly, the transaction records recorded in the versions of theblockchain 299 may be recorded as-is by the blockchain transaction nodesbased on transaction records received from the set of user devices ormay be generated based on adding to or modifying transaction informationreceived by the blockchain transaction nodes from the set of userdevices. Additionally, the blockchain transaction nodes may distributethe transaction information and/or transaction records to otherblockchain transaction nodes until all of the blockchain transactionnodes in the blockchain network 250 that maintain versions of theblockchain 299 are notified of a transaction.

Additionally, the set of user devices in FIG. 2A (and FIG. 2B) areprimarily described as being separate from blockchain transaction nodesin the blockchain network 250. However, in some embodiments, one or moreof the set of user devices in FIG. 2A (and FIG. 2B) may also serve as ablockchain transaction node in the blockchain network 250.

Transactions among the set of user devices in FIG. 2A (and FIG. 2B) mayinclude exchanges of a blockchain transaction medium for rights tosomething else such as a defined amount of a(nother) currency, aphysical object, a service, or another transactable item. Thetransactions may be conducted between wallets (e.g., walletapplications) installed on each of the set of user devices in FIG. 2A(and FIG. 2B), and may be conducted via an electronic exchange provided,for example, by or for the entity that provides the electronic wallets.An electronic exchange is not shown in FIG. 2A (or FIG. 2B) but mayseparately record details of each transaction between wallets installedon each of the set of user devices in FIG. 2A (and FIG. 2B). The set ofuser devices in FIG. 2A (and FIG. 2B) may report the transactions to theblockchain transaction nodes in the blockchain network 250.

Blockchain transaction mediums described herein may include singularunits of electronic currencies, as well as electronic tokens that arederived based on one or more units of electronic currencies. Theblockchain transaction mediums may be cryptocurrency such as electroniccoins that meet a standard or protocol set for the blockchain network250 or may be electronic tokens derived from such a cryptocurrency.

The blockchain transaction mediums may be uniquely marked with one ormore identifiable characteristic that can be confirmed later as uniquemarkings that mark a set of blockchain transaction mediums among alarger pool of blockchain transaction mediums. For example, differentunique markings may be provided for each of two or more entirelydifferent sets of blockchain transaction mediums. The unique markingsmay be provided in, on, or for the blockchain transaction mediums,indicating that the blockchain transaction mediums belong to aparticular set of blockchain transaction mediums. The unique marking ofthe blockchain transaction mediums may be coordinated among the set ofuser devices in FIG. 2A (and FIG. 2B). The unique markings may uniquelydistinguish the set of blockchain transaction mediums as a set from anyand all other blockchain transaction mediums of the same type ordifferent types.

In FIG. 2A, the first user device 205 or the second user device 215 maygenerate the unique marking for each of a set of blockchain transactionmediums with a first identifiable characteristic. However, the uniquemarking may be generated by the combination of the first user device 205and the second user device 215. For example, the unique marking may beone or more details of a record of the transaction between the firstuser device 205 and the second user device 215. The unique marking mayinclude or be based on, for example, details of an identification of thefirst user device 205 and/or identification of the second user device215, and/or the time and/or date of the transaction. The unique markingmay also be a unique marking added to the blockchain transactionmediums, such as alphanumeric characters added to a header or field of ablockchain transaction medium.

In some embodiments described herein, the first identifiablecharacteristic may be based on an amount of time the blockchaintransaction mediums are held at the first user device 205 and/or at thesecond user device 215. For example, the first identifiablecharacteristic may be for blockchain transaction mediums that are heldby the first user device 205 for at least an hour, twenty four hours, aweek, three weeks, a month, three months, or another amount of time. Inthis way, the combination of a computer identity and an amount of timepresent at the computer may be used to uniquely mark each of a set ofblockchain transaction mediums. In some embodiments described herein,the combination of computer identities of both the first user device 205and the second user device 215 and amounts of time present at each ofthe first user device 205 and the second user device 215 may uniquelymark the set of blockchain transaction mediums.

In some embodiment described herein, the first identifiablecharacteristic may be based on at least one of a specific date or aspecific time that the blockchain transaction mediums are held at thefirst user device 205 and/or held at the second user device 215. Forexample, a set of blockchain transaction mediums may be uniquely markedby being present at the first user device 205 on December 22, 2019 atnoon. In this way, the combination of a computer identity and presenceat each or both of the first user device 205 and the second user device215 on specific dates and/or at specific times may be used to uniquelymark the set of blockchain transaction mediums. In additionalembodiments, the first identifiable characteristic may be based on atleast one of a specific date or a specific time that the blockchaintransaction mediums are transacted from the user devices. In this way,the unique marking for the set of blockchain transaction mediums may bethat they are exchanged from the first user device 205 on a specificdate or in a specific timeframe on a specific date or specific dates.

In the above examples, the unique marking may be a characteristic aboutblockchain transaction mediums, such as characteristics recorded in orotherwise derivable from records maintained in blocks of a blockchain.In other examples, the unique marking may be added directly to ablockchain transaction medium such as in a header or field of a datalayout of the blockchain transaction medium. A method of marking a setof blockchain transaction mediums may include adding a persistentidentification to each of the blockchain transaction mediums to uniquelymark the blockchain transaction mediums in a manner that cannot bealtered.

In some embodiments, the first identifiable characteristic may include amedia access control address (MAC address) of a computer such as thefirst user device 205. In some embodiments, the first identifiablecharacteristic may include a central processing unit serial number (CPUserial number) of a computer such as the first user device 205. In someembodiments, the first identifiable characteristic may include a harddisk drive serial number (HDD serial number) of a computer such as thefirst user device 205. In these embodiments, the first identifiablecharacteristic may be a persistent unique marking added to a data layoutof the blockchain transaction mediums or may be a unique marking addedto or otherwise derivable from records in blocks of the blockchain thatrecords transactions involving the blockchain transaction mediums.

In accordance with embodiments consistent with the description of FIG.2A (and FIG. 2B), a method for dedicating a set of blockchaintransaction mediums to a common commitment may include obtaining a setof blockchain transaction mediums at a first networked transaction node.The first networked transaction node may be or may include a computersuch as the first user device 205. The method may also includeindividually transacting each of the blockchain transaction mediums to asecond networked transaction node. The second networked transaction nodemay be or may include a computer such as the second user device 215. Themethod may also include individually and separately updating a block ofa blockchain for each of the blockchain transaction mediums to uniquelymark each of the blockchain transaction mediums with a firstidentifiable characteristic dedicated only to the set of blockchaintransaction mediums.

The common commitment to which a set of blockchain transaction mediumsare dedicated may be, for example, a goal of a group of researchersresearching a topic to solve a problem. The blockchain transactionmediums may be dedicated as a set to the group of researchers as anincentive to reach the goal by solving the problem.

In some embodiments, transactions involving the blockchain transactionmediums may be subject to heightened security measures compared totransactions involving other blockchain transaction mediums. Forexample, in some embodiments, the blockchain transaction mediums may beelectronic tokens transacted subject to heightened security measurescompared to electronic coins underlying the blockchain transactionmediums. In other examples, the blockchain transaction mediums may beelectronic tokens, and may require a user to confirm a transaction usinga password, a biometric input such as a fingerprint, or may requiremultiple transactions such as confirmation through a secondary userdevice other than one of the set of user devices in FIG. 2A (or FIG.2B). The heightened security measures may be used to ensure users do notinadvertently transact blockchain transaction mediums that may be valuedmuch higher than default or notional values of the blockchaintransaction mediums of the same type but without the unique markings. Inother words, the blockchain-based transactions using the technologydescribed herein may involve monetary amounts far higher than default ornotional values of blockchain transaction mediums used for thetransactions, and therefore may invite such heightened securitymeasures.

FIG. 2B illustrates a transaction network for blockchain-basedtransaction mechanisms, in accordance with a representative embodiment.

In FIG. 2B, the transaction network 200 includes a blockchain network250 and a set of user devices including the first user device 205, thesecond user device 215, a third user device 225, a fourth user device235, a fifth user device 245 and a sixth user device 255. The set ofuser devices in FIG. 2B may communicate over electronic communicationnetworks such as the internet. Additionally, the set of user devices inFIG. 2B may communicate with blockchain transaction nodes in theblockchain network 250. The blockchain transaction nodes in theblockchain network 250 in FIG. 2B may also communicate over the one ormore electronic communications networks such as the internet. Electroniccommunications networks by which the set of user devices and theblockchain transaction nodes in the blockchain network 250 in FIG. 2Bcommunicate may be wired or wireless.

The transaction network 200 in FIB. 2B may be coordinated as a whole toperform functions described herein. For example, each of the first userdevice 205, the second user device 215, the third user device 225, thefourth user device 235, the fifth user device 245 and the sixth userdevice 255 may be individually programmed to perform coordinatedfunctionality described herein. Additionally or alternatively, as shownin and described with respect to FIG. 9, a central controller such asthe central controller 995 in FIG. 9 (e.g., a server) may coordinate thefunctionality of the set of user devices in FIG. 2B. Compared to thetransaction network 200 in FIG. 2A, more than two user devices areincluded in the set of user devices which conduct transactions andgenerate transaction information and/or transaction records of thetransactions in FIG. 2B. While the transaction network 200 is shown withsix user devices, a set of user devices in the transaction network 200in FIG. 2B may include as few as two user devices or more than six userdevices. For example, transactions between hundreds of user devices inthe transaction network 200 may be coordinated for the purposesdescribed herein.

Networked transaction nodes described herein may each include one of theset of user devices in FIG. 2B. For example, a first networkedtransaction node may include the first user device 205 and affiliateddevices connected to the first user device 205 such as a monitor and/ora printer. A second networked transaction node may include the seconduser device 215 and affiliated devices connected to the second userdevice 215. A third networked transaction node may include the thirduser device 225 and affiliated devices connected to the third userdevice 225. A fourth networked transaction node may include the fourthuser device 235 and affiliated devices connected to the fourth userdevice 235. A fifth networked transaction node may include the fifthuser device 245 and affiliated devices connected to the fifth userdevice 245. A sixth networked transaction node may include the sixthuser device 255 and affiliated devices connected to the sixth userdevice 255.

Unique marking in embodiments consistent with the teachings of FIG. 2Bmay be based on at least the same features as in the embodimentsconsistent with the teachings of FIG. 2A. Accordingly, the uniquemarking may be based on any combination of at least:

-   -   identity of computers or computer components in one or more of        the set of user devices in FIG. 2B;    -   durations of time held at one or more of the set of user devices        in FIG. 2B.    -   date and/or times at which the blockchain transaction mediums        are held at one or more of the set of user devices in FIG. 2B    -   date and/or times at which the blockchain transaction mediums        are transacted from one or more of the set of user devices in        FIG. 2B

Also in embodiments consistent with the teachings of FIG. 2B, the uniquemarking may be based on a sequence of transactions among the set of userdevices. For example, a first set of blockchain transaction mediums maybe uniquely marked by a sequence of transactions from the first userdevice 205 to the second user device 215, from the second user device215 to the third user device 225, from the third user device 225 to thefourth user device 235, from the fourth user device 235 to the fifthuser device 245, and from the fifth user device 245 to the sixth userdevice 255. A completely different second set of blockchain transactionmediums may be uniquely marked by reversing the sequence for the firstset, thereby conducting transactions in the reverse order starting fromthe sixth user device 255 to the fifth user device 245. The uniquemarking may include other characteristics such as the identity of thecomputers or computer components in the set of user devices, durationsat which the blockchain transaction mediums are held at one or more ofthe set of user devices, and date and/or time details as describedherein.

In accordance with embodiments consistent with the description of FIG.2B, a method may include individually transacting each of the blockchaintransaction mediums from the second user device 215 to the third userdevice 225. The method may also include individually and separatelyupdating one or more blocks of the blockchain for each of the blockchaintransaction mediums to uniquely mark each of the blockchain transactionmediums with a second identifiable characteristic dedicated only to theset of blockchain transaction mediums. The second identifiablecharacteristic may be any of those described already in the context ofthe description of FIG. 2A and FIG. 2B above. The second identifiablecharacteristic may therefore be specific to the second user device 215,the third user device 225, times at which the blockchain transactionmediums are stored on these user devices, and/or transacted from theseuser devices. The second identifiable characteristic may also be storedin records of the transactions involving the blockchain transactionmediums, and/or may be stored directly in the blockchain transactionmediums such as by modifying headers or fields of data layouts ofblockchain transaction mediums. In some embodiments, multiple differentblocks of the blockchain may be updated to uniquely mark each of theblockchain transaction mediums with the first identifiablecharacteristic and to uniquely mark each of the blockchain transactionmediums with the second identifiable characteristic. Therefore, multipledifferent unique markings may be marked on or for a set of blockchaintransaction mediums so that they can be readily identified later asbelonging to a particular set.

In some embodiments, the first identifiable characteristic is based onsequential movement of the blockchain transaction mediums from the firstuser device 205 to the second user device 215. In the context of FIG.2B, the first identifiable characteristic may be based on sequentialmovement among more than just two user devices, such as when a sequenceof transactions among a centrally-coordinated daisy chain of userdevices is used to uniquely mark each of a set of blockchain transactionmediums. In some embodiments, the first identifiable characteristic mayalso or alternatively be based on at least one of a specific date or aspecific time that the blockchain transaction mediums are transactedfrom the first user device 205 and from the second user device 215. Inthis way, timing of exchanges from each of multiple user devices may beused to uniquely mark a set of blockchain transaction mediums.

In some embodiments, a sequence of transactions involving the blockchaintransaction mediums, including a first transaction and a secondtransaction, may be predetermined. For example, the entire sequenceshown in and described with respect to FIG. 2B may be predetermined andcoordinated for each and every blockchain transaction medium in a set.Accordingly, the first identifiable characteristic and/or a secondidentifiable characteristic may be based on the sequence. The sequencemay involve fewer or more individual transactions and user devices thanshown in FIG. 2B and may involve sometimes transacting the blockchaintransaction mediums through one or more individual user devices morethan once. That is, one or more individual user devices may receive andsend the set of blockchain transaction mediums more than once in asequence used to uniquely mark the set of blockchain transactionmediums.

FIG. 2C illustrates a user device in a transaction network forblockchain-based transaction mechanisms, in accordance with arepresentative embodiment.

The first user device 205 in FIG. 2C may be any type of user device thatcommunicates directly or indirectly over a network and that includes aprocessor 2051 and a memory 2052 with a wallet 20525 as describedherein. The memory 2052 may store instructions, and the processor 2051may execute the instructions to implement processes as described herein.

The wallet 20525 may be an executable software program stored in thememory 2052. It will be understood that the wallet 20525 functions byinteracting with other devices such as servers and other user devicesand with other applications such as other wallets stored in memories ofother user devices.

The wallet 20525 may be used to initiate transactions with otherwallets, so as to exchange blockchain transaction mediums with somethingelse such as currency. The wallet 20525 may also store blockchaintransaction mediums or mechanisms for controlling blockchain transactionmediums on external devices such as at an electronic exchange dedicatedto storing and transacting blockchain transaction mediums. The wallet20525 may interact with a user of the first user device 205 so as toprovide information such as an account balance, a record of plannedand/or executed exchanges, and/or market prices for the blockchaintransaction mediums based on most recent transactions. The informationprovided by the wallet 20525 may be provided by a graphical userinterface (not shown) on the first user device 205, or by audioannouncement.

In some embodiments consistent with the description of FIG. 2C, a recordof each transaction using the blockchain transaction mediums isdisplayable on a user interface corresponding to an electronic walletsuch as the wallet 20525 dedicated to a predetermined user involved inthe transaction. That is, the previous transactions involving anyparticular blockchain transaction medium may be viewed via a wallet20525, even if this requires requesting the records from the blockchainnetwork 250. For example, a user may request that one or more blockchaintransaction node(s) search through the version(s) of the blockchainmaintained by the blockchain transaction node(s) and identify andretrieve summaries of prior transactions involving any particularblockchain transaction medium.

Additionally, in some embodiments consistent with the description ofFIG. 2C, each transaction using the blockchain transaction mediums isrecorded in at least one electronic wallet dedicated to a predetermineduser. That is, electronic wallets such as the wallet 20525 may bededicated to and controlled by specific users, so that interactions withthe electronic wallets are necessarily with predetermined users.Additionally, the transactions may be recorded in the same memory as theelectronic wallets. In one embodiment, the electronic wallets mayautomatically confirm, or selectively confirm, transactions uponrequests from downstream or upstream holders of blockchain transactionmediums that passed through the electronic wallets. In this way, ahistory of transactions involving blockchain transaction mediums may beaccessible upon request from upstream and/or downstream holders of theblockchain transaction mediums. The history of transactions maytherefore be confirmable by requests to the electronic wallets inaddition to the customary confirmation processes involving blockchainnetworks such as the blockchain network 250.

FIG. 2D illustrates a transaction flow for blockchain transactionmediums using the transaction network for blockchain-based transactionmechanisms of FIG. 2B, in accordance with a representative embodiment.

In FIG. 2D, the set of user devices from FIG. 2B are shown in moredetail. The first user device 205 includes the processor 2051 and thememory 2052 with the wallet 20525. The second user device 215 includes asecond processor 2151 and a second memory 2152 with a second wallet21525. The third user device 225 includes a third processor 2251 and athird memory 2252 with a third wallet 22525. The fourth user device 235includes a fourth processor 2351 and a fourth memory 2352 with a fourthwallet 23525. The fifth user device 245 includes a fifth processor 2451and a fifth memory 2452 with a fifth wallet 24525. The sixth user device255 includes a sixth processor 2551 and a sixth memory 2552 with a sixthwallet 25525.

In the transaction flow of FIG. 2D, blockchain transaction mediums areexchanged between the first user device 205 and the second user device215 at S201. Blockchain transaction mediums are exchanged between thesecond user device 215 and the third user device 225 at S217. Blockchaintransaction mediums are exchanged between the third user device 225 andthe fourth user device 235 at S219. Blockchain transaction mediums areexchanged between the fourth user device 235 and the fifth user device245 at S223. Blockchain transaction mediums are exchanged between thefifth user device 245 and the sixth user device 255 at S227.

In some embodiments consistent with the description of FIG. 2D, theblockchain transaction mediums are individually transacted between twoblockchain wallet applications such as the wallet 20525 or other walletsdescribed above and installed on two separate user devices registered totwo separate users. The two blockchain wallet applications transactblockchain transaction mediums in accordance with a blockchain protocol.The blockchain wallet applications may be pre-installed on user devicessuch as smartphones, or more likely may be retrieved from an onlineapplication store that provides applications such as blockchain walletapplications on-demand.

FIG. 2E illustrates a blockchain network in the transaction network forblockchain-based transaction mechanisms in FIG. 2A and the transactionnetwork for blockchain-based transaction mechanisms in FIG. 2B, inaccordance with a representative embodiment.

In FIG. 2E, the blockchain network 250 in the transaction network 200includes a first blockchain transaction node 210, a second blockchaintransaction node 220, a third blockchain transaction node 230, a fourthblockchain transaction node 240, and a fifth blockchain transaction node260. The first blockchain transaction node 210 is shown to notify thesecond blockchain transaction node 220 of a transaction involving one ormore of the sets of user devices in FIG. A, FIG. B or FIG. 2D. Thesecond blockchain transaction node 220 is shown to notify the thirdblockchain transaction node 230 of the transaction involving one or moreof the sets of user devices in FIG. A, FIG. B or FIG. 2D. The thirdblockchain transaction node 230 is shown to notify the fourth blockchaintransaction node 240 of the transaction involving one or more of thesets of user devices in FIG. A, FIG. B or FIG. 2D. The fourth blockchaintransaction node 240 is shown to notify the fifth blockchain transactionnode 260 of the transaction involving one or more of the sets of userdevices in FIG. A, FIG. B or FIG. 2D.

In the embodiment of FIG. 2E, one or more of the user devices in FIG. A,FIG. B or FIG. 2D notify the first blockchain transaction node 210 ofthe transaction. However, the one or more of the user devices may notifymore than one of the blockchain transaction nodes in FIG. 2E directly.Additionally, in the embodiment of FIG. 2E, the notifications betweenthe blockchain transaction nodes are shown to be performed in a daisychain on a one-to-one basis. However, one or more of the blockchaintransaction nodes in FIG. 2E may notify multiple of the other blockchaintransaction nodes of the transaction involving one or more of the userdevices. For example, the first blockchain transaction node 210 maynotify the second blockchain transaction node 220, the third blockchaintransaction node 230, the fourth blockchain transaction node 240 and thefifth blockchain transaction node 260 of the transaction involving oneor more of the user devices. Moreover, in the embodiment of FIG. 2E, theblockchain network 250 is shown to include five blockchain transactionnodes. However, the blockchain network 250 may include fewer or morethan five blockchain transaction nodes.

FIG. 2F illustrates a blockchain transaction node in the blockchainnetwork in the transaction network in FIG. 2E, in accordance with arepresentative embodiment.

In FIG. 2F, the first blockchain transaction node 210 includes aprocessor 2101 and a memory 2102 with a cryptographic program 21025. Thecryptographic program 21025 is used to create the version of theblockchain 299 maintained by the first blockchain transaction node 210.The memory 2102 stores instructions including the cryptographic program21025 that are executed by the processor 2101. Each blockchaintransaction node in the blockchain network 250 described herein may beassumed to have a configuration consistent with the first blockchaintransaction node 210 shown in FIG. 2F.

FIG. 2G illustrates another transaction flow for blockchain transactionmediums using the transaction network for blockchain-based transactionmechanisms of FIG. 2B, in accordance with a representative embodiment.

In FIG. 2G, an example implementation of the dedicated identifiablecharacteristic for a set of blockchain transaction mediums is shown. Inthis example, a first blockchain transaction medium is transactedbetween five or more blockchain transaction nodes, and then a secondblockchain transaction medium is transacted between the same five ormore blockchain transaction nodes. The first blockchain transactionmedium and the second blockchain transaction medium may be part of a setthat includes hundreds, thousands, tens of thousands, hundreds ofthousands, or even more blockchain transaction mediums all uniquelymarked with the same unique characteristic or characteristics.

In the first transaction flow of FIG. 2G, blockchain transaction mediumsmay be exchanged between a second user device (e.g., the second userdevice 215) and a third user device (e.g., the third user device 225) atS217A. Blockchain transaction mediums are exchanged between the thirduser device and a fourth user device (e.g., the fourth user device 235)at S219A. Blockchain transaction mediums are exchanged between thefourth user device and a fifth user device (e.g., the fifth user device245) at S223A. Blockchain transaction mediums are exchanged between thefifth user device and a sixth user device (e.g., the sixth user device255) at S227A. Additional exchanges may be made in the first transactionflow, such as between a first user device (e.g., the first user device205) and the second user device, and/or between the sixth user deviceand a seventh user device (not shown). In the embodiment of FIG. 2G,multiple blockchain transaction mediums are transacted between the sameblockchain transaction nodes. The sequence, timing, order, timeframe orother identifiable characteristics of the transactions may be used as anidentifiable characteristics (e.g., a first identifiable characteristic,a second identifiable characteristic, a third identifiablecharacteristic, a fourth identifiable characteristic). The details ofthe transactions may be used to isolate the blockchain transactionmediums involved in the transactions from a much larger set ofblockchain transaction mediums that do not possess the same identifiablecharacteristic(s).

In the second transaction flow of FIG. 2G, blockchain transactionmediums may be exchanged between the second user device and the thirduser device at S217B. Blockchain transaction mediums are exchangedbetween the third user device and the fourth user device at S219B.Blockchain transaction mediums are exchanged between the fourth userdevice and the fifth user device at S223B. Blockchain transactionmediums are exchanged between the fifth user device and the sixth userdevice at S227B. Additional exchanges may be made in the secondtransaction flow, such as between a first user device and the seconduser device, and/or between the sixth user device and a seventh userdevice (not shown). In the embodiment of FIG. 2G, the characteristic(s)that uniquely mark each of the blockchain transaction mediums may bebased on the transactions, such as the sequence, timing, order,timeframe or other identifiable characteristics of the transactions.

In accordance with some embodiments consistent with the description ofFIG. 2G, financial transactions are correlated with the blockchaintransaction mediums. For example, securities issued to researchemployees dedicated to a common commitment may reference the blockchaintransaction mediums uniquely marked as described herein in order toreadily provide for electronic transactions.

FIG. 3 illustrates a computer system, on which a method for implementingblockchain-based transaction mechanisms is implemented, in accordancewith another representative embodiment.

The computer system 300 of FIG. 3 shows a complete set of components fora communications device or a computer device. However, a “computer” asdescribed herein may be implemented with less than the set of componentsof FIG. 3, such as by at least a memory and processor combination. Thecomputer system 300 may include some or all elements of one or morecomponent apparatuses in a system for blockchain-based transactionmechanisms herein, although any such apparatus may not necessarilyinclude one or more of the elements described for the computer system300 and may include other elements not described.

Referring to FIG. 3, the computer system 300 includes a set of softwareinstructions that can be executed to cause the computer system 300 toperform any of the methods or computer-based functions disclosed herein.The computer system 300 may operate as a standalone device or may beconnected, for example, using a network 301, to other computer systemsor peripheral devices. In embodiments, a computer system 300 performslogical processing based on digital signals received via ananalog-to-digital converter.

In a networked deployment, the computer system 300 operates in thecapacity of a server or as a client user computer in a server-clientuser network environment, or as a peer computer system in a peer-to-peer(or distributed) network environment. The computer system 300 can alsobe implemented as or incorporated into various devices, such as acomputer at any user device or blockchain transaction node describedherein, a server, a stationary computer, a mobile computer, a personalcomputer (PC), a laptop computer, a tablet computer, or any othermachine capable of executing a set of software instructions (sequentialor otherwise) that specify actions to be taken by that machine. Thecomputer system 300 can be incorporated as or in a device that in turnis in an integrated system that includes additional devices. In anembodiment, the computer system 300 can be implemented using electronicdevices that provide voice, video or data communication. Further, whilethe computer system 300 is illustrated in the singular, the term“system” shall also be taken to include any collection of systems orsub-systems that individually or jointly execute a set, or multiplesets, of software instructions to perform one or more computerfunctions.

As illustrated in FIG. 3, the computer system 300 includes a processor310. The processor 310 is tangible and non-transitory. As used herein,the term “non-transitory” is to be interpreted not as an eternalcharacteristic of a state, but as a characteristic of a state that willlast for a period. The term “non-transitory” specifically disavowsfleeting characteristics such as characteristics of a carrier wave orsignal or other forms that exist only transitorily in any place at anytime. The processor 310 is an article of manufacture and/or a machinecomponent. The processor 310 is configured to execute softwareinstructions to perform functions as described in the variousembodiments herein. The processor 310 may be a general-purpose processoror may be part of an application specific integrated circuit (ASIC). Theprocessor 310 may also be a microprocessor, a microcomputer, a processorchip, a controller, a microcontroller, a digital signal processor (DSP),a state machine, or a programmable logic device. The processor 310 mayalso be a logical circuit, including a programmable gate array (PGA),such as a field programmable gate array (FPGA), or another type ofcircuit that includes discrete gate and/or transistor logic. Theprocessor 310 may be a central processing unit (CPU), a graphicsprocessing unit (GPU), or both. Additionally, any processor describedherein may include multiple processors, parallel processors, or both.Multiple processors may be included in, or coupled to, a single deviceor multiple devices.

The term “processor” as used herein encompasses an electronic componentable to execute a program or machine executable instruction. Referencesto a computing device comprising “a processor” should be interpreted toinclude more than one processor or processing core, as in a multi-coreprocessor. A processor may also refer to a collection of processorswithin a single computer system or distributed among multiple computersystems. The term computing device should also be interpreted to includea collection or network of computing devices each including a processoror processors. Programs have software instructions performed by one ormultiple processors that may be within the same computing device orwhich may be distributed across multiple computing devices.

The computer system 300 further includes a main memory 320 and a staticmemory 330, where memories in the computer system 300 communicate witheach other and the processor 310 via a bus 308. Memories describedherein are tangible storage mediums for storing data and executablesoftware instructions and are non-transitory during the time softwareinstructions are stored therein. As used herein, the term“non-transitory” is to be interpreted not as an eternal characteristicof a state, but as a characteristic of a state that will last for aperiod. The term “non-transitory” specifically disavows fleetingcharacteristics such as characteristics of a carrier wave or signal orother forms that exist only transitorily in any place at any time. Themain memory 320 and the static memory 330 are articles of manufactureand/or machine components. The main memory 320 and the static memory 330are computer-readable mediums from which data and executable softwareinstructions can be read by a computer (e.g., the processor 310). Eachof the main memory 320 and the static memory 330 may be implemented asone or more of random access memory (RAM), read only memory (ROM), flashmemory, electrically programmable read only memory (EPROM), electricallyerasable programmable read-only memory (EEPROM), registers, a hard disk,a removable disk, tape, compact disk read only memory (CD-ROM), digitalversatile disk (DVD), floppy disk, blu-ray disk, or any other form ofstorage medium known in the art. The memories may be volatile ornon-volatile, secure and/or encrypted, unsecure and/or unencrypted.

“Memory” is an example of a computer-readable storage medium. Computermemory is any memory which is directly accessible to a processor.Examples of computer memory include, but are not limited to RAM memory,registers, and register files. References to “computer memory” or“memory” should be interpreted as possibly being multiple memories. Thememory may for instance be multiple memories within the same computersystem. The memory may also be multiple memories distributed amongstmultiple computer systems or computing devices.

As shown, the computer system 300 further includes a video display unit350, such as a liquid crystal display (LCD), an organic light emittingdiode (OLED), a flat panel display, a solid-state display, or a cathoderay tube (CRT), for example. Additionally, the computer system 300includes an input device 360, such as a keyboard/virtual keyboard ortouch-sensitive input screen or speech input with speech recognition,and a cursor control device 370, such as a mouse or touch-sensitiveinput screen or pad. The computer system 300 also optionally includes adisk drive unit 380, a signal generation device 390, such as a speakeror remote control, and/or a network interface device 340.

In an embodiment, as depicted in FIG. 3, the disk drive unit 380includes a computer-readable medium 382 in which one or more sets ofsoftware instructions 384 (software) are embedded. The sets of softwareinstructions 384 are read from the computer-readable medium 382 to beexecuted by the processor 310. Further, the software instructions 384,when executed by the processor 310, perform one or more steps of themethods and processes as described herein. In an embodiment, thesoftware instructions 384 reside all or in part within the main memory320, the static memory 330 and/or the processor 310 during execution bythe computer system 300. Further, the computer-readable medium 382 mayinclude software instructions 384 or receive and execute softwareinstructions 384 responsive to a propagated signal, so that a deviceconnected to a network 301 communicates voice, video or data over thenetwork 301. The software instructions 384 may be transmitted orreceived over the network 301 via the network interface device 340.

In an embodiment, dedicated hardware implementations, such asapplication-specific integrated circuits (ASICs), field programmablegate arrays (FPGAs), programmable logic arrays and other hardwarecomponents, are constructed to implement one or more of the methodsdescribed herein. One or more embodiments described herein may implementfunctions using two or more specific interconnected hardware modules ordevices with related control and data signals that can be communicatedbetween and through the modules. Accordingly, the present disclosureencompasses software, firmware, and hardware implementations. Nothing inthe present application should be interpreted as being implemented orimplementable solely with software and not hardware such as a tangiblenon-transitory processor and/or memory.

In accordance with various embodiments of the present disclosure, themethods described herein may be implemented using a hardware computersystem that executes software programs. Further, in an exemplary,non-limited embodiment, implementations can include distributedprocessing, component/object distributed processing, and parallelprocessing. Virtual computer system processing may implement one or moreof the methods or functionalities as described herein, and a processordescribed herein may be used to support a virtual processingenvironment.

FIG. 4A illustrates a process flow for blockchain-based transactionmechanisms, in accordance with another representative embodiment.

In FIG. 4A, a transaction at S401 involves a blockchain transactionmedium provided to a second user device 415. At S411, the blockchaintransaction medium is provided from the second user device 415 inanother transaction to a trusted third party 465, such as a computer atan independent third-party such as a financial institution. At S421, theblockchain transaction medium is provided in another transaction fromthe trusted third party 465 to a third user device 425. At S431, theblockchain transaction medium is provided in another transaction fromthe third user device 425 to a fourth user device 435. At S441, theblockchain transaction medium is provided from the fourth user device435 to a fifth user device 445.

In the embodiment of FIG. 4A, a sequence of transactions that is used asthe unique marking for blockchain transaction mediums includestransactions involving a trusted third-party. The trusted third-partymay be a financial institution, a bank, an exchange, an authenticationservice, or any other service that may improve the trustworthiness ofthe blockchain transaction mediums. Although not shown, more than onetrusted third-party may be included in the sequence of transactions.Additionally, although the transactions involving the trustedthird-party are the second transaction and the third transaction in FIG.4A, the trusted third-party may be involved in transactions earlier orlater in the sequence. For example, the sequence may start with atransaction in which the trusted third-party provided the blockchaintransaction medium.

Also, though not shown in FIG. 4A, the same sequence may be providedrepeatedly for each blockchain transaction medium that is dedicated to acommon commitment. For example, when a set of blockchain transactionmediums are to be correlated with securities that have rights to receiveroyalties, a predetermined number of blockchain transaction mediums maybe subject to the sequence in FIG. 4A so that the predeterminedblockchain transaction mediums can be assigned on a one-to-one basis oranother basis to the securities.

In some embodiments consistent with FIG. 4A, a method for dedicating aset of blockchain transaction mediums may include validating, through atrusted third-party service such as the trusted third party 465, a totalcount of transactions involving the blockchain transaction mediums atthe first user device 405 or at another user device such as the seconduser device 415. For example, the trusted third party 465 may count thenumber of prior transactions involving each blockchain transactionmedium received in a transaction from the second user device 415. Thiscount may be used to select only blockchain transaction mediums with atotal number of prior transactions beneath a threshold for inclusion inthe set of blockchain transaction mediums. Given the nature ofconsensus-based blockchain recordkeeping, control of this count can beused to bias control of the set of blockchain transaction mediums infavor of an issuer of the set of blockchain transaction mediums in termsof the common commitment. In other words, when an issuer of the set ofblockchain transaction mediums wants to piggyback the common commitmentas a special purpose for selected blockchain transaction mediums thatotherwise belong to a larger default group, the issuer may select thosethat are minimally transacted already, so as to ensure some level ofcontrol in latter disputes in transactions involving the set ofblockchain transaction mediums. The threshold may be a maximum number ofprior transactions allowed for inclusion in the set of blockchaintransaction mediums.

That is, in some embodiments consistent with the descriptions of FIG.4A, a method for dedicating a set of blockchain transaction mediums mayinclude determining a number of prior transactions for each electronictoken among the blockchain transaction mediums; comparing the number ofprior transactions for each electronic token among the blockchaintransaction mediums against a threshold; and individually transactingeach of the blockchain transaction mediums to the next user device in asequence only when the number of prior transactions for each of theblockchain transaction mediums is lower than the threshold. Of course,in FIG. 4A the count may be performed by a trusted third party 465, butsuch a count may also be performed by one of the user devices in FIG.4A. Also, as another benefit of minimizing the counts for blockchaintransaction mediums included in a set, any later checks on history forthe blockchain transaction mediums (e.g., a token) may involve minimalprocessing, which in turns allows for weighting the control of the setof blockchain transaction mediums in favor of the issuer via use of acoordinated daisy chain of user devices for transactions.

As also noted previously, the unique markings for a set of blockchaintransaction mediums may be added to or otherwise derivable from recordsof transactions involving the blockchain transaction mediums.Alternatively, in the embodiments of FIG. 4A (described above) of FIG.4B (described below), the unique markings may be added by adding apersistent identification to each of the blockchain transaction mediumsto uniquely mark the common commitment. A method for dedicating a set ofblockchain transaction mechanisms may include verifying, through atrusted third-party service independent of the first user device 405 andindependent of the second user device 415, the persistent identificationadded to or otherwise derivable from each of the blockchain transactionmediums. In this way, a trusted third party 465 may verify a totalnumber of blockchain transaction mediums to which the persistentidentification is added so that the total number is verified by thetrusted third-party service using a server such as the server of thetrusted third party 465.

In embodiments consistent with the description of FIG. 4A, a method fordedicating sets of blockchain transaction mediums to common commitmentsmay include assigning both a first set of blockchain transaction mediumsto a first common commitment and assigning a second set of blockchaintransaction mediums to a second common commitment. Specifically, themethod may include assigning a first set of blockchain transactionmediums to a first common commitment from a pool of blockchaintransaction mediums that includes the first blockchain transactionmediums, second blockchain transaction mediums and other blockchaintransaction mediums, and then dedicating the first set of blockchaintransaction mediums to the first common commitment. The method may alsoinclude assigning a second set of blockchain transaction mediums to asecond common commitment from the pool of blockchain transactionmediums, and then dedicating the second set of blockchain transactionmediums to the second common commitment. The method may further includetransacting at least one of the first set of blockchain transactionmediums in isolation from the second set of blockchain transactionmediums and from the other blockchain transaction mediums in the pool ofblockchain transaction mediums.

In the above example, the isolation of the at least one of the first setof blockchain transaction mediums may mean that the transaction itselfdoes not involve any blockchain transaction mediums outside of the firstset, that a valuation of the first set of blockchain transaction mediumsis entirely independent of the valuation of blockchain transactionmediums outside of the first set, and/or that the first set ofblockchain transaction mediums are treated differently than blockchaintransaction mediums outside of the first set such as by the electronicexchange that facilitates the transaction. For example, the first set ofblockchain transaction mediums may be exchangeable in transactions at afirst value common to the pool of blockchain transaction mediums, and ata second value common only to the first set of blockchain transactionmediums. The first value common to the pool of blockchain transactionmediums may be based on valuations for the type of blockchaintransaction mediums on an open market. The second value common only tothe first set of blockchain transaction mediums may be specifically tiedto valuations of securities tied only to the first set of blockchaintransaction mediums. Additionally, the second set of blockchaintransaction mediums may be exchangeable in transactions at the firstvalue common to the pool of blockchain transaction mediums, and at athird value common only to the second set of blockchain transactionmediums. The first value for the second set may be the same as the firstvalue for the first set and based on valuations for the type ofblockchain transaction mediums on an open market. The third value commononly to the second set of blockchain transaction mediums may bespecifically tied to valuations of securities tied only to the secondset of blockchain transaction mediums.

Also or alternatively in the above example, the first set of blockchaintransaction mediums may be dedicated to a first contributor node of anentity, and the first contributor node of the entity may be committed toa first common commitment. The second set of blockchain transactionmediums may be dedicated to a second contributor node of an entity, andthe second contributor node of the entity may be committed to a secondcommon commitment. The first contributor node of the entity maycorrespond to a group of employees and/or contractors such asresearchers and support staff dedicated to a task such as finding a curefor a disease or building a prototype system. The second contributornode of the entity may correspond to another, different, group ofemployees and/or contractors such as researchers and support staffdedicated to another task such as finding a different cure for the samedisease, or a cure for another disease, or building another prototypesystem. For example, revenues generated based on efforts of the firstnode may be due in part to the employees and/or contractors of the firstnode as royalties, and revenues generated based on efforts of the secondnode may be due in part to the employees and/or contractors of thesecond node as royalties. The first set of blockchain transactionmediums and the second set of blockchain transaction mediums may betransacted on the open market based on expected returns due to theroyalties. The method may also include assigning a third set ofblockchain transaction mediums to at least the first contributor node ofthe entity and the second contributor node of the entity in common anddedicating the third set of blockchain transaction mediums to at leastthe first contributor node of the entity and the second contributor nodeof the entity. The method may further include transacting at least oneof the third set of blockchain transaction mediums in isolation from thefirst set of blockchain transaction mediums, from the second set ofblockchain transaction mediums and from the other blockchain transactionmediums in the pool of blockchain transaction mediums. For example,revenues generated based on efforts of both the first node and thesecond node may be due in part to the employees and/or contractors ofboth the first node and the second node as royalties, and the third setof blockchain transaction mediums may be transacted on the open marketbased on expected returns due to these royalties, separate from thefirst set and the second set. Members of the first contributor node ofthe entity may be variably compensated with the first set of blockchaintransaction mediums based on contributions of the members on behalf ofthe first contributor node of the entity. Members of the secondcontributor node of the entity may be variably compensated with thesecond set of blockchain transaction mediums based on contributions ofthe members on behalf of the second contributor node of the entity.Members of both the first contributor node and of the second contributornode may be variably compensated with the third set of blockchaintransaction mediums based on contributions of the members on behalf ofthe first contributor node and the second contributor node of theentity.

FIG. 4B illustrates another process flow for blockchain-basedtransaction mechanisms, in accordance with another representativeembodiment.

In FIG. 4B, a transaction at S441A involves a blockchain transactionmedium provided to a second user device 415. At S441B, the second userdevice notifies the trusted third party 465 of the transaction at S441A.The trusted third party 465 again may be a computer at an independentthird-party such as a financial institution. At S442A, the blockchaintransaction medium is provided from the second user device 415 to athird user device 425. At S442B, the third user device 425 notifies thetrusted third party 465 of the transaction at S442A.

At S443A the blockchain transaction medium is provided in anothertransaction from the third user device 425 to a fourth user device 435.At S443B, the fourth user device 435 notifies the trusted third party465 of the transaction at S443A. At S444A, the blockchain transactionmedium is provided from the fourth user device 435 to a fifth userdevice 445. At S444B, the fifth user device 445 notifies the trustedthird party 465 of the transaction at S444A.

In the embodiment of FIG. 4B, a sequence of transactions that is used asthe unique marking for blockchain transaction mediums are reportedindividually to a trusted third-party. The trusted third-party may be afinancial institution, a bank, an exchange, an authentication service,or any other service that may improve the trustworthiness of theblockchain transaction mediums by maintaining a record of individualnotifications of each transaction. Although not shown, more than onetrusted third-party may be notified of the sequence of transactions.Alternatively, the trusted third party 465 in FIG. 4B may be anintermediary that notifies another third-party such as a governmententity of each transaction. Additionally, although the trustedthird-party is notified of all of the transactions shown in FIG. 4B, thetrusted third-party may be notified of fewer than all transactions, suchas by a predetermined subset of the user devices in FIG. 4B. Forexample, the second user device 415 and the fifth user device 445 maynotify the trusted third party 465 of transactions, whereas the thirduser device 425 and the fourth user device 435 may not be required tonotify the trusted third-party.

Also, though not shown in FIG. 4B, the same sequence may be providedrepeatedly for each blockchain transaction medium that is dedicated to acommon commitment. For example, when a set of blockchain transactionmediums are to be correlated with securities that have rights to receiveroyalties, a predetermined number of blockchain transaction mediums maybe subject to the sequence in FIG. 4B so that the predeterminedblockchain transaction mediums can be assigned on a one-to-one basis oranother basis to the securities. The trusted third party 465 maymaintain records of the blockchain transaction mediums that are assignedto the securities that have rights to receive royalties. For example,the trusted third party 465 may maintain a record of dates, times andperiods in which the transactions in FIG. 4B occur, and/or a record ofthe total number of blockchain transaction mediums subject to thesequence in FIG. 4B.

In some embodiments consistent with FIG. 4B, a method for dedicating aset of blockchain transaction mediums may include validating, through atrusted third-party service such as the trusted third party 465, a totalcount of transactions involving the blockchain transaction mediums atthe first user device 405 and a total count of transactions involvingthe blockchain transaction mediums at the second user device 415. Thetrusted third party 465 may be provided entirely independent of thefirst user device 405 and the second user device 415 and may anindependent service that is provided for verification purpose such asthose described herein. As a result of these features, a set ofblockchain transaction mediums may be selected with a minimal number ofexisting (prior) transactions, and these can be dedicated for furtherprocessing to provide the unique markings for the blockchain transactionmediums ultimately provided in the set. The duplicate counts may also beperformed to ensure that the counts match. In an example, the counts maybe performed at the beginning and end of a marking process to ensure thecounts do not diverge more than expected due to the transactions betweenthe beginning and end of the marking process.

In some embodiments consistent with the description of the method ofFIG. 4B, a method for tracking a set of blockchain transaction mediumsdedicated to a common commitment may include sending, via an electroniccommunications network from computers of holders of the blockchaintransaction mediums, notifications of transactions of the blockchaintransaction mediums from the holders of the blockchain transactionmediums to recipients of the blockchain transaction mediums. Forexample, the first user device 405 may send a notification over anelectronic communications network to the third party 465 when completinga transaction to the second computer 415 as a recipient of a blockchaintransaction medium. The second user device 415 may send a notificationover an electronic communications network to the third party 465 whencompleting a transaction to the third user device 425. The third-partyin this instance may be the issuer of the blockchain transaction mediumor may operate on behalf of the issuer of the blockchain transactionmedium to track holders of the blockchain transaction medium.

The method described immediately above may include confirming a presenceof unique markings of the blockchain transaction mediums. For example,the third party 465 may request proof of information on or with theblockchain transaction mediums, such as information of previoustransactions, timings, computers involved, and so on. Since the uniquemarkings are established from the beginning, the third party 465 may beaware from the beginning of what to look for in terms of the uniquemarkings for any particular set of blockchain transaction mediums. Themethod described immediately above may also include confirmingidentifications of the recipients of the blockchain transaction mediumsas new holders of the blockchain transaction mediums. For example, thethird party 465 may require a name, social security number,communications address or communications addresses, computeridentification, and/or other form of identification from each recipientof the blockchain transaction medium to register the holders separatefrom the typical tracking provided by blockchain networks. The methoddescribed immediately above may also include updating records to reflectthe new holders of the blockchain transaction mediums based onconfirming the presence of unique markings of the blockchain transactionmediums and the identifications of the recipients of the blockchaintransaction mediums as the new holders.

In embodiments consistent with the description of FIG. 4B, a method fortracking a set of blockchain transaction mediums dedicated to a commoncommitment may also include adding royalties due to the new holders ofthe blockchain transaction mediums to a pool due to the holders of theblockchain transaction mediums. The blockchain transaction mediumsmarked with the unique markings may be exchangeable in transactions atvalues that vary from values of blockchain transaction mediums of thesame type not marked with the unique markings. The actual adding ofroyalties and determinations of values may be performed separate fromthe third party 465, such as by a financial institution or corporation.

In some embodiments, a method for tracking a set of blockchaintransaction mediums may also include adding royalties due to the newholders of the blockchain transaction mediums to a pool due to theholders of the blockchain transaction mediums. The method may alsoinclude distributing royalties due to the new holders of the blockchaintransaction mediums to accounts of the new holder. The blockchaintransaction mediums marked with the unique markings may be exchangeablein transactions at values that vary from values of blockchaintransaction mediums of the same type not marked with the uniquemarkings. For example, the accounts may be electronic accountsassociated with electronic wallets controlled by holders.

In some embodiments, the transactions of the blockchain transactionmediums may be between electronic wallets of the holders of theblockchain transaction mediums and electronic wallets of the recipientsof the blockchain transaction mediums. A method for tracking a set ofblockchain transaction mediums may include receiving, at a computer ofan issuer of the blockchain transaction mediums, the notifications oftransactions. The method may also include updating, by the computer ofthe issuer of the blockchain transaction mediums, the records to reflectthe new holders. For example, here the computer of the issuer may be aserver of the third party 465 shown in FIG. 4B. Royalties due to the newholders of the blockchain transaction mediums may be distributed to oron behalf of the new holders of the blockchain transaction mediums basedon the records updated to reflect the new holders. A method for trackinga set of blockchain transaction mediums may also include distributingthe royalties to the new holders via third-party financial services thatprovide electronic wallets to the new holders. For example, third-partyintermediaries may be used to distribute royalties to electronicaccounts of current holders of blockchain transaction mediums when theroyalties are issued.

FIG. 4C illustrates another process flow for blockchain-basedtransaction mechanisms, in accordance with another representativeembodiment.

In FIG. 4C, a transaction at S401 involves a blockchain transactionmedium provided to a second user device 415. However, in the embodimentof FIG. 4C, the blockchain transaction medium is reduced by subtractionor division from a nominal value when received by the second user device415. For example, if the blockchain transaction medium has a nominalvalue of a unit (i.e., “1”) when received by the second user device 415,the blockchain transaction medium may be divided into sub-units such asone-tenth (“ 1/10th”) or one-hundredth (“1/100”). The sub-units may eachthen correspond to new blockchain transaction mediums created by thesecond user device 415 through the subtraction or division. For example,the second user device 415 may create one hundred (“100”) new blockchaintransaction mediums through division of the original blockchaintransaction medium received by the second user device 415.

At S411, the one of the new blockchain transaction mediums is providedin another transaction from the second user device 415 to a third userdevice 425. At S421, the new blockchain transaction medium is providedfrom the third user device 425 to a fourth user device 435. At S431, thenew blockchain transaction medium is provided from the fourth userdevice 435 to a fifth user device 445.

In the embodiment of FIG. 4C, a sequence of transactions that is used asthe unique marking for blockchain transaction mediums starts withcreating new blockchain transaction mediums from a single receivedblockchain transaction medium. For example, a coin with a nominal valueof a unit may be received and then divided into sub-coins withcorresponding values of sub-units. The division may allow use of aneffective blockchain protocol even when the original blockchaintransaction medium has a relatively high market value, so that thedivision allows leveraging the effective blockchain protocol withoutrequiring that each security incur a cost of the relatively high marketvalue of a full unit of the blockchain transaction mediums. Although notshown, the unique marking of the blockchain transaction mediums mayinvolve more than one reduction through subtractions or divisions.Although not shown, one or more trusted third-party may be included inthe sequence of transactions, and a trusted third-party may be used tocreate the new blockchain transaction mediums from a single receivedblockchain transaction medium.

Also, though not shown in FIG. 4C, the same sequence may be providedrepeatedly for each blockchain transaction medium that is dedicated to acommon commitment. For example, when a set of blockchain transactionmediums are to be correlated with securities that have rights to receiveroyalties, a predetermined number of blockchain transaction mediums maybe subject to the sequence in FIG. 4C so that the predeterminedblockchain transaction mediums can be assigned on a one-to-one basis oranother basis to the securities.

FIG. 4D illustrates another process flow for blockchain-basedtransaction mechanisms, in accordance with another representativeembodiment.

In FIG. 4D, a transaction at S401 involves a blockchain transactionmedium provided to a second user device 415. However, in the embodimentof FIG. 4C, the blockchain transaction medium is combined by additionwith another blockchain transaction medium so that nominal values of thetwo blockchain transaction mediums received by the second user device415 are combined into a single nominal value. For example, if each of afirst blockchain transaction medium and a second blockchain transactionmedium have nominal values of a sub-unit such as one-tenth (i.e., “1/10th”) when received by the second user device 415, the blockchaintransaction medium may be combined into a single sub-unit such astwo-tenths (“ 2/10th”) or two-hundredth (“ 2/100”). The single sub-unitmay then correspond to a new blockchain transaction mediums created bythe second user device 415 through the addition.

At S411, the new blockchain transaction medium is provided in anothertransaction from the second user device 415 to a third user device 425.At S421, the new blockchain transaction medium is provided from thethird user device 425 to a fourth user device 435. At S431, the newblockchain transaction medium is provided from the fourth user device435 to a fifth user device 445.

In the embodiment of FIG. 4D, a sequence of transactions that is used asthe unique marking for blockchain transaction mediums starts withcreating a new blockchain transaction medium from two or more individualreceived blockchain transaction mediums. For example, a blockchaintransaction medium with a nominal value of a sub-unit or sub-coin may bereceived and combined with another blockchain transaction medium with anominal value of a sub-unit or sub-coin. The combination may allowenhanced marking using an effective blockchain protocol with arelatively low market value, so that the combination allows leveragingthe effective blockchain protocol by showing the same combination formultiple blockchain transaction mediums. Although not shown, the uniquemarking of the blockchain transaction mediums may involve more than onecombination through addition. Although not shown, one or more trustedthird-party may be included in the sequence of transactions, and atrusted third-party may be used to create the new blockchain transactionmediums from two or more individual received blockchain transactionmediums.

Also, though not shown in FIG. 4D, the same sequence may be providedrepeatedly for each blockchain transaction medium that is dedicated to acommon commitment. For example, when a set of blockchain transactionmediums are to be correlated with securities that have rights to receiveroyalties, a predetermined number of blockchain transaction mediums maybe subject to the sequence in FIG. 4D so that the predeterminedblockchain transaction mediums can be assigned on a one-to-one basis oranother basis to the securities.

FIG. 4E illustrates another process flow for blockchain-basedtransaction mechanisms, in accordance with another representativeembodiment.

In FIG. 4E, a transaction at S401 involves a blockchain transactionmedium provided to a second user device 415. However, in the embodimentof FIG. 4E, the blockchain transaction medium is reduced by the seconduser device 415 in the manner of FIG. 4C such as by subtraction ordivision.

At S411, a new blockchain transaction medium created from the reductionby the second user device 415 is provided in another transaction fromthe second user device 415 to a third user device 425. However, in theembodiment of FIG. 4E, the new blockchain transaction medium is combinedwith another blockchain transaction medium by the third user device 425in the manner of the combination in FIG. 4D to create a second newblockchain transaction medium. At S421, the second new blockchaintransaction medium is provided from the third user device 425 to afourth user device 435. At S331, the second new blockchain transactionmedium is provided from the fourth user device 435 to a fifth userdevice 445.

In the embodiment of FIG. 4E, a sequence of transactions that is used asthe unique marking for blockchain transaction mediums starts withcreating new blockchain transaction mediums more than once, includingfrom reduction (e.g., subtraction or division) or an original receivedblockchain transaction medium and from combination of two or moreindividual blockchain transaction mediums. Although not shown, theunique marking of the blockchain transaction mediums may involve morethan one reduction and/or more than one combination through addition.Although not shown, one or more trusted third-party may be included inthe sequence of transactions, and a trusted third-party may be used tocreate the new blockchain transaction medium(s).

Also, though not shown in FIG. 4E, the same sequence may be providedrepeatedly for each blockchain transaction medium that is dedicated to acommon commitment. For example, when a set of blockchain transactionmediums are to be correlated with securities that have rights to receiveroyalties, a predetermined number of blockchain transaction mediums maybe subject to the sequence in FIG. 4E so that the predeterminedblockchain transaction mediums can be assigned on a one-to-one basis oranother basis to the securities.

In accordance with some embodiments consistent with the abovedescriptions of FIGS. 4C, 4D and/or 4E, a method for dedicating a set ofblockchain transaction mediums may include dividing a electronic coininto multiple blockchain subcoins and creating the blockchaintransaction mediums to each individually correspond to a different oneof the blockchain subcoins. A blockchain subcoin may be a electroniccoin with a value divided from an original electronic coin having aunitary value. The blockchain transaction mediums may be tokens based onone or more blockchain subcoins.

In accordance with some embodiments consistent with the abovedescriptions of FIGS. 4C, 4D and/or 4E, a method for dedicating a set ofblockchain transaction mediums may include dividing each of multiple ofelectronic coins into multiple blockchain subcoins; adding at least oneblockchain subcoin from one of the electronic coins to at least oneblockchain subcoin from another of the electronic coins; and creatingthe blockchain transaction mediums to each individually correspond tocombinations of the at least one blockchain subcoin from the one of theelectronic coins and the at least one blockchain subcoin from another ofthe. In this way, a unique marking for the blockchain transactionmediums may require origins from one or both of specific original coinsthat were subdivided into subcoins.

FIG. 5 illustrates a method for marking blockchain-based transactionmechanisms, in accordance with a representative embodiment.

The process in FIG. 5 starts at S510 with obtaining a electronic token.

At S511, the process in FIG. 5 includes adding a first transaction.

At S512, the process in FIG. 5 includes updating a blockchain to includea timestamp and/or computer identification(s) from the first transactionat S511.

At S521, the process in FIG. 5 includes adding a second transaction.

At S522, the process in FIG. 5 includes updating the blockchain toinclude a timestamp and/or computer identification(s) from the secondtransaction at S521.

At S531, the process in FIG. 5 includes adding a third transaction.

At S532, the process in FIG. 4 includes updating the blockchain toinclude a timestamp and/or computer identification(s) from the thirdtransaction at S531.

At S550, the sequence from S510 to S532 is set as an identifiablecharacteristic.

The number of transactions in the process of FIG. 5 is not limited tothree. Rather, a sequence set as an identifiable characteristic for ablockchain transaction medium may include more than three transactions,such as dozens or even hundreds of transactions.

Additionally, the sequence in FIG. 5 may be applied to multipleblockchain transaction mediums, in order to isolate the multipleblockchain transaction mediums from a larger set of blockchaintransaction mediums that may otherwise have some or all othercharacteristics of the multiple blockchain transaction mediums. Forexample, the identifiable characteristic used to uniquely mark themultiple blockchain transaction mediums may be used to differentiate asubset of blockchain transaction mediums from a larger set that fallunder a single type of blockchain transaction mediums, such as type thatfall under a single, specific blockchain protocol or standard.

In embodiments consistent with the description of FIG. 5, a method fordedicating a set of blockchain transaction mediums to a commoncommitment may include obtaining a set of blockchain transaction mediumsat a first networked transaction node. The method may also includeindividually and uniquely marking each of the blockchain transactionmediums with a first identifiable characteristic dedicated only to theset of blockchain transaction mediums. As examples, the firstidentifiable characteristic may be based on an identification of a firstspecific computer at the first networked transaction node or a secondspecific computer at the second networked transaction node, or anidentification of a first specific computer at the first networkedtransaction node and an identification of a second specific computer atthe second networked transaction node. As other examples, the firstidentifiable characteristic may be based on sequential movement of theblockchain transaction mediums from the first networked transaction nodeto the second networked transaction node. As more examples, the firstidentifiable characteristic may be based on an amount of time theblockchain transaction mediums are held at a first specific computer atthe first networked transaction node, or an amount of time theblockchain transaction mediums are held at a first specific computer atthe first networked transaction node and at a second specific computerat the second networked transaction node. As yet even more examples, thefirst identifiable characteristic may be based on at least one of aspecific date or a specific time that the blockchain transaction mediumsare held at a first specific computer at the first networked transactionnode, at least one of a specific date or a specific time that theblockchain transaction mediums are held at a first specific computer atthe first networked transaction node and at a second specific computerat the second networked transaction node, at least one of a specificdate or a specific time that the blockchain transaction mediums aretransacted from a first specific computer at the first networkedtransaction node, and/or at least one of a specific date or a specifictime that the blockchain transaction mediums are transacted from a firstspecific computer at the first networked transaction node and from asecond specific computer at the second networked transaction node.

FIG. 6 illustrates a method for selecting blockchain-based transactionmechanisms, in accordance with a representative embodiment.

At S610, the process of FIG. 6 starts with obtaining a electronic tokenat a first user device.

At S620, the process of FIG. 6 includes determining a transaction countfor the electronic token and checking whether the transaction count isabove a threshold.

At S621, if the transaction count is above a threshold (S620 =Yes) theprocess next skips use of the electronic token. At S630, if thetransaction count is not above the threshold (S620=No) the process nexttransacts the electronic token to a second user device.

At S640, the process of FIG. 6 includes confirming the transaction fromS630 to a newest block to be added to the blockchain. The confirmationat 6540 may include distributing a record of the transaction from S530to each blockchain transaction node that maintains a version of theblockchain.

At S650, the process of FIG. 6 increments by one and returns to S610 torepeat the process of FIG. 6.

FIG. 7A illustrates a timeline for implementing blockchain-basedtransaction mechanisms, in accordance with a representative embodiment.

In FIG. 7A, a timeline 700A starts at a starting time T0 and ends at anending time T1. Between the starting time T0 and the ending time T1,three different blockchain transactions are conducted including a firstblockchain transaction at S411, a second blockchain transaction at S421and a third blockchain transaction at S431.

In the embodiment of FIG. 7A, a unique marking for a blockchaintransaction medium may be timestamps for each of the first, second andthird transactions confirming that all three occurred between thestarting time T0 and the ending time T1. The unique marking may alsoinclude an identifier of one or more computer involved in each of thefirst, second and third transactions. Multiple blockchain transactionmediums may be transacted in the same way between the starting time T0and the ending time T1 to create a class of blockchain transactionmediums dedicated to the same purpose.

FIG. 7B illustrates another timeline for implementing blockchain-basedtransaction mechanisms, in accordance with a representative embodiment.

In FIG. 7B, a timeline 700B starts at a starting time T0 and ends at anending time T1. Between the starting time T0 and the ending time T1, twodifferent blockchain transactions are conducted including a firstblockchain transaction at S411 and a second blockchain transaction atS421. A third blockchain transaction is conducted at S431 after theending time T1. When the starting time T0 and the ending time T1uniquely mark blockchain transaction mediums, the failure of the thirdblockchain transaction at S431 to be fall within the period between thestarting time T0 and the ending time T1 may reflect that the blockchaintransaction medium transacted at S411, S421 and S431 does not callwithin the class of blockchain transaction mediums marked between thestarting time T0 and the ending time T1. Alternatively, the class ofblockchain transaction mediums may be marked only by the transactionsbetween parties at S411 and S421 and not by the transaction between theparties in S431, in which case these transactions falling between thestarting time T0 and the ending time T1 confirms that they are withinthe class of blockchain transaction mediums marked between the startingtime T0 and the ending time T1.

In the embodiment of FIG. 7B, a unique marking for a blockchaintransaction medium may be timestamps for each of the first and secondtransactions or for each of the first, second and third transactionsconfirming that both or all three occurred between the starting time T0and the ending time T1. The unique marking may also include anidentifier of one or more computer involved in each of the first andsecond transactions or in each of the first, second and thirdtransactions. Multiple blockchain transaction mediums may be transactedin the same way between the starting time T0 and the ending time T1 tocreate a class of blockchain transaction mediums dedicated to the samepurpose.

FIG. 7C illustrates another timeline for implementing blockchain-basedtransaction mechanisms, in accordance with a representative embodiment.

In FIG. 7C, a timeline 700C starts at a starting time T0 and ends at anending time T1. Between the starting time T0 and the ending time T1,only a first blockchain transaction 411 is conducted. A secondblockchain transaction at S421 and a third blockchain transaction areconducted at S421 and S431 after the ending time T1. When the startingtime T0 and the ending time T1 uniquely mark a subset of blockchaintransaction mediums, the failure of the second blockchain transaction atS421 and the third blockchain transaction at S431 to fall within theperiod between the starting time T0 and the ending time T1 may reflectthat the blockchain transaction medium transacted at S411, S421 and S431do not fall within the subset of blockchain transaction mediums markedbetween the starting time T0 and the ending time T1. Alternatively, theclass of blockchain transaction mediums may be marked only by thetransaction between parties at S411, and not by the transactions betweenthe parties in S421 and S431, in which case the sole transaction fallingbetween the starting time T0 and the ending time T1 confirms that theyare within the class of blockchain transaction mediums marked betweenthe starting time T0 and the ending time T1.

In the embodiment of FIG. 7C, a unique marking for a blockchaintransaction medium may be timestamps for the first transactionconfirming that the first transaction occurred between the starting timeT0 and the ending time T1. The unique marking may also include anidentifier of one or more computer involved in the first transaction.Multiple blockchain transaction mediums may be transacted in the sameway between the starting time T0 and the ending time T1 to create aclass of blockchain transaction mediums dedicated to the same purpose.

FIG. 8A illustrates another transaction network for blockchain-basedtransaction mechanisms, in accordance with a representative embodiment.

In FIG. 8A, the transaction network 800A includes a first user device815 and a fifth user device 855 along with a trusted third-partyfinancial institution 870 and a blockchain network 850. In theembodiment of FIG. 8A, at S831 the first user device 815 initiates aninquiry with the trusted third-party financial institution 870 to checkon a blockchain transaction medium. For example, the first user device815 may open an electronic wallet installed thereon to check a value ofa blockchain transaction medium. The trusted third-party financialinstitution may verify the blockchain transaction medium with theblockchain network 850, and then identify a last transaction price forthe class/subsets of blockchain transaction mediums that include theblockchain transaction medium being checked by the first user device815.

At S833 the fifth user device 855 initiates an inquiry with the trustedthird-party financial institution 870 to check on a blockchaintransaction medium. For example, the fifth user device 855 may open anelectronic wallet installed thereon to check a value of a blockchaintransaction medium. The trusted third-party financial institution mayverify the blockchain transaction medium with the blockchain network850, and then identify a last transaction price for the class/subsets ofblockchain transaction mediums that include the blockchain transactionmedium being checked by the fifth user device 855.

In the embodiment of FIG. 8A and some other embodiments describedherein, a blockchain transaction medium may have two or more valuesassociated therewith. For example, a blockchain transaction medium mayhave a nominal value stated in units of the coin established by theprotocol under which the blockchain transaction medium falls. Theblockchain transaction medium may also have a general market valueestablished for the general type of blockchain transaction mediums whichinclude the blockchain transaction medium. The blockchain transactionmedium may also have a special market value established for the subsetof blockchain transaction mediums identified uniquely by the marksdescribed herein. The unique markings may specifically identify thesubset of blockchain transaction mediums as belonging to a subset thateach correspond with a security that has rights to an income stream suchas a royalty stream, a dividend stream, or an interest stream.

FIG. 8B illustrates another transaction network for blockchain-basedtransaction mechanisms, in accordance with a representative embodiment.

In FIG. 8B, the transaction network 800A includes a first user device815 and a fifth user device 855 along with a trusted third-partyintermediary service 880 and a trusted third-party financial institution870 and a blockchain network 850. In the embodiment of FIG. 8B, at S831the first user device 815 initiates an inquiry with the trustedthird-party intermediary service 880, which in turn initiates anelectronic communication exchange with the trusted third-party financialinstitution 870 to check on a blockchain transaction medium. Forexample, the first user device 815 may open an electronic walletinstalled thereon to check a value of a blockchain transaction medium.The trusted third-party intermediary service 880 may verify theblockchain transaction medium with the blockchain network 850 and notifythe trusted third-party financial institution 870 to identify a lasttransaction price for the class/subsets of blockchain transactionmediums that include the blockchain transaction medium being checked bythe first user device 815.

At S833 the fifth user device 855 initiates an inquiry with the trustedthird-party intermediary service 880, which in turn initiates anelectronic communication exchange with the trusted third-party financialinstitution 870 to check on a blockchain transaction medium. Forexample, the fifth user device 855 may open an electronic walletinstalled thereon to check a value of a blockchain transaction medium.The trusted third-party intermediary service 880 may verify theblockchain transaction medium with the blockchain network 850 and notifythe trusted third-party financial institution 870 to identify a lasttransaction price for the class/subsets of blockchain transactionmediums that include the blockchain transaction medium being checked bythe fifth user device 855.

In the embodiment of FIG. 8B and some other embodiments describedherein, a blockchain transaction medium may have two or more valuesassociated therewith. For example, a blockchain transaction medium mayhave a nominal value stated in units of the coin established by theprotocol under which the blockchain transaction medium falls. Theblockchain transaction medium may also have a general market valueestablished for the general type of blockchain transaction mediums whichinclude the blockchain transaction medium. The blockchain transactionmedium may also have a special market value established for the subsetof blockchain transaction mediums identified uniquely by the marksdescribed herein. The unique markings may specifically identify thesubset of blockchain transaction mediums as belonging to a subset thateach correspond with a security that has rights to an income stream suchas a royalty stream, a dividend stream, or an interest stream.

FIG. 9 illustrates another transaction network for blockchain-basedtransaction mechanisms, in accordance with a representative embodiment.

In FIG. 9, a transaction system 900 includes a blockchain network 950and a set of user devices including a first user device 905, a seconduser device 915, a third user device 925, a fourth user device 935, afifth user device 945 and a sixth user device 955. The set of userdevices conduct transactions and generate records of the transactionsthat are then provided to the blockchain transaction nodes in theblockchain network 950 for recording in the versions of the blockchainmaintained by the blockchain transaction nodes in the blockchain network950. The set of user devices in FIG. 9 are controlled to synchronize thetransactions by a central controller 995. For example, the centralcontroller 995 may be a server that coordinates a sequence oftransactions between the set of user devices.

In FIG. 9, the central controller 995 may send an instruction to thefirst user device 905 at S904. The first user device 905 then initiatesand conducts a transaction with the second user device 915 at S906,based on the instruction at S904.

The central controller 995 may send an instruction to the second userdevice 915 at S914. The second user device 915 then initiates andconducts a transaction with the third user device 925 at S916, based onthe instruction at S914.

The central controller 995 may send an instruction to the third userdevice 925 at S924. The third user device 925 then initiates andconducts a transaction with the fourth user device 935 at S926, based onthe instruction at S924.

The central controller 995 may send an instruction to the fourth userdevice 935 at S934. The fourth user device 935 then initiates andconducts a transaction with the fifth user device 945 at S936, based onthe instruction at S934.

The central controller 995 may send an instruction to the fifth userdevice 945 at S944. The fifth user device 945 then initiates andconducts a transaction with the sixth user device 955 at S946, based onthe instruction at S944.

In the embodiment of FIG. 9, the central controller 995 operatescentrally to coordinate user devices to conduct a sequence oftransactions. The central controller 995 may include a memory thatstores instructions and a processor that executes the instructions toimplement the coordination. The coordination may be used to generatemultiple sets of blockchain transaction mediums for differentcommitments. The sequence of transactions may be used to uniquely markone or multiple sets of blockchain transaction mediums in order todedicate the set of blockchain transaction mediums to a commoncommitment. In an embodiment, each set of blockchain transaction mediumscan be issued to personnel included in different contributor nodes of anentity such as a business. The blockchain transaction mediums can beused as the basis for receiving royalties due to the personnel of thecontributor node of the entity. The blockchain transaction mediums canalso be transacted on electronic exchanges based on the mechanismsdescribed herein.

FIG. 10A illustrates an arrangement for transaction reporting forblockchain-based transaction mechanisms, in accordance with arepresentative embodiment.

In FIG. 10A, a transaction system 1000A includes a blockchaintransaction network 1050 and a set of user devices including a firstuser device 1005, a second user device 1015, a third user device 1025, afourth user device 1035, a fifth user device 1045 and a sixth userdevice 1055. The set of user devices in FIG. 10A conduct transactionsand generate records of the transactions that are then reported to thereporting authority 1070 while also being reported to and recorded inthe newest blocks maintained by the blockchain transaction nodes in theblockchain transaction network 1050. The set of user devices in FIG. 10report to the reporting authority 1070 when they are sending theblockchain transaction medium(s) to the recipient.

For example, the first user device 1005 sends a blockchain transactionmedium to the second user device 1015 at S1006, and then notifies thereporting authority of the transaction at 1007. The second user device1015 sends the blockchain transaction medium to the third user device1025 at S1016, and then notifies the reporting authority of thetransaction at 1017. The third user device 1025 sends the blockchaintransaction medium to the fourth user device 1035 at S1026, and thennotifies the reporting authority of the transaction at 1027. The fourthuser device 1035 sends the blockchain transaction medium to the fifthuser device 1045 at S1036, and then notifies the reporting authority ofthe transaction at 1037. The fifth user device 1045 sends the blockchaintransaction medium to the sixth user device 1055 at S1046, and thennotifies the reporting authority of the transaction at 1047.

In the embodiment of FIG. 10A, the reporting authority 1070 may trackthe blockchain transaction mediums to ensure the current owners arecredited with royalty payments or other income payments (e.g.,dividends, interest) due to owners of securities corresponding to theblockchain transaction mediums. The sending user devices may know toreport the transactions to the reporting authority 1070 due to operatinginstructions in electronic wallets stored in and executed by the sendinguser devices. The sending user devices may also or alternatively know toreport the transactions to the reporting authority 1070 due to operatinginstructions provided in, on or with the blockchain transaction medium.For example, an executable instruction provided with each blockchaintransaction medium may specify that the reporting authority 1070 is tobe notified of each transaction, including date, time, sender,recipient, and so on. The executable instruction may be provided in anexecutable portion of the blockchain transaction medium, or in anexecutable section of a packet by which the blockchain transactionmedium is transmitted. Electronic wallets executed by the sending userdevices may be configured to implement the reporting to the reportingauthority 1070, even when other blockchain transaction mediums of thesame type do not always have the same requirements.

In accordance with some embodiments consistent with the description ofFIG. 10A, a method for dedicating a set of blockchain transactionmediums may include notifying the issuer of each blockchain transactionmedium of each transaction involving the blockchain transaction medium.For example, blockchain transaction mediums may include executableinstructions to perform such notifications. Alternatively, electronicwallets may be configured with executable instructions to recognize suchblockchain transaction mediums and send a notification to apredetermined communications address of the issuer. In otheralternatives, the executable instructions to perform the notificationsmay accompany the blockchain transaction mediums without being part ofthe blockchain transaction mediums.

FIG. 10B illustrates another arrangement for transaction reporting forblockchain-based transaction mechanisms, in accordance with arepresentative embodiment.

In FIG. 10B, a transaction system 1000B again includes a blockchaintransaction network 1050 and a set of user devices including a firstuser device 1005, a second user device 1015, a third user device 1025, afourth user device 1035, a fifth user device 1045 and a sixth userdevice 1055. The set of user devices conduct transactions and generaterecords of the transactions that are then reported to the reportingauthority 1070 while also being reported to and recorded in the newestblocks maintained by the blockchain transaction nodes in the blockchaintransaction network 1050. The set of user devices in FIG. 10 report tothe reporting authority 1070 when they are receiving the blockchaintransaction medium(s) from the sender.

For example, the first user device 1005 sends a blockchain transactionmedium to the second user device 1015 at S1006, which then notifies thereporting authority of the transaction at S1014. The second user device1015 sends the blockchain transaction medium to the third user device1025 at S1016, which then notifies the reporting authority of thetransaction at S1024. The third user device 1025 sends the blockchaintransaction medium to the fourth user device 1035 at S1026, which thennotifies the reporting authority of the transaction at S1034. The fourthuser device 1035 sends the blockchain transaction medium to the fifthuser device 1045 at S1036, which then notifies the reporting authorityof the transaction at S1044. The fifth user device 1045 sends theblockchain transaction medium to the sixth user device 1055 at S1046,which then notifies the reporting authority of the transaction at S1054.

In the embodiment of FIG. 10B, the reporting authority 1070 may trackthe blockchain transaction mediums to ensure the current owners arecredited with royalty payments or other income payments (e.g.,dividends, interest) due to owners of securities corresponding to theblockchain transaction mediums. The receiving user devices may know toreport the transactions to the reporting authority 1070 due to operatinginstructions in electronic wallets stored in and executed by thereceiving user devices. The receiving user devices may also oralternatively know to report the transactions to the reporting authority1070 due to operating instructions provided in, on or with theblockchain transaction medium. For example, an executable instructionprovided with each blockchain transaction medium may specify that thereporting authority 1070 is to be notified of each transaction,including date, time, sender, recipient, and so on. The executableinstruction may be provided in an executable portion of the blockchaintransaction medium, or in an executable section of a packet by which theblockchain transaction medium is transmitted. Electronic walletsexecuted by the receiving user devices may be configured to implementthe reporting to the reporting authority 1070, even when otherblockchain transaction mediums of the same type do not always have thesame requirements.

FIG. 10C illustrates another arrangement for transaction reporting forblockchain-based transaction mechanisms, in accordance with arepresentative embodiment.

In the embodiment of FIG. 10, a transaction system 1000C includes atleast the reporting authority 1070 and the blockchain transactionnetwork 1050. In this embodiment, the blockchain transaction network1050 notifies the reporting authority 1070 of each transaction. Forexample, a blockchain transaction node in the blockchain transactionnetwork 1050 that is first notified of any transaction involving the setof blockchain transaction mediums may be required to notify thereporting authority 1070 of the transaction before or when notifyingother blockchain transaction nodes in the blockchain transaction network1050 of the transaction.

FIG. 11 illustrates a method for tracking blockchain-based transactionmechanisms, in accordance with a representative embodiment.

In FIG. 11, the process starts at S1110 by completing a transaction.

At S1120, notification of transaction completion is sent.

At S1130, the presence of unique markings of the blockchain transactionmediums may be confirmed.

At S1140, identification of recipients of blockchain transactionmedium(s) as new holders is confirmed.

At S1150, records are updated to reflect the completed transaction.

At S1160, royalties are received and distributed to or on behalf of theblockchain transaction medium(s).

FIG. 12 illustrates a wallet user interface for blockchain-basedtransaction mechanisms, in accordance with a representative embodiment.

In the embodiment of FIG. 12, a display 2053 may be a display on a firstuser device 205 described earlier. The display 2053 may be configured todisplay a wallet user interface. The wallet user interface may be aninteractive user interface that shows information of an electronicwallet user interface, including details of blockchain mediums owned bythe owner or the user of the first user device 205.

As shown in FIG. 12, a blockchain medium #1 may have a nominal value X1,such as 1 coin unit or 5 coin units of a cryptocurrency. The blockchainmedium #1 may also have a default market value Y1, such as a marketvalue of the nominal value X1 expressed in another currency such asdollars or pesos, based on a most recent market exchange between thecryptocurrency and the other currency. The blockchain medium #1 may alsohave a subclass market value Z1, which is specific only to theblockchain transaction mediums uniquely marked in the manner describedherein. The default market value Y1 may operate as a variable floor forvalues of the blockchain medium #1, whereas the subclass market value Z1may be higher than the default market value Y1 when the securitiescorresponding to the set of blockchain transaction mediums with theunique markings are expected to receive, or actually receive, incomesuch as royalties, dividends or interest.

Also in FIG. 12, a blockchain medium #2 may have a nominal value X2. Theblockchain medium #2 may also have a default market value Y2 and asubclass market value Z2. The blockchain medium #2 may be a tokenderived from a different type of cryptocurrency than the blockchainmedium #1. The blockchain medium #2 may also correspond to a differentset of securities than the blockchain medium #1. An electronic walletimplemented by the first user device 205 may be configured to provisionblockchain transaction mediums of multiple different types and formultiple different purposes.

FIG. 13 illustrates a method for transacting a set of blockchaintransaction mediums dedicated to a common commitment, in accordance witha representative embodiment.

The process of FIG. 13 starts at S1310 by identifying a firstidentifiable characteristic of a first blockchain transaction medium ofa set.

At S1320, the process of FIG. 13 includes validating the firstblockchain transaction medium as belonging to the set based onidentifying the first identifiable characteristic at S1310.

At S1330, the process of FIG. 13 includes exchanging the firstblockchain transaction medium in a transaction based on validating thefirst blockchain transaction medium as belonging to the set at S1340.For example, the exchanging may be conducted between two electronicwallets stored on two separate computers controlled by two separateusers. The exchanging may be performed by an electronic exchange, suchas an electronic exchange implemented by a third-party server thatcommunicates with the computers that store and execute the electronicwallets.

At S1340, the process of FIG. 13 includes notifying an originator of theset of blockchain transaction mediums of the transaction including anidentity of a recipient of the first blockchain transaction mediumand/or an address of a recipient of the first blockchain transactionmedium. For example, the originator may be notified by an electronicmessage to a predetermined electronic communications address.

After S1340, the process returns to S1310 to identify a firstidentifiable characteristic of another blockchain transaction medium ofthe set. The process of FIG. 13 may be performed each time a blockchaintransaction medium is received in order to check whether the blockchaintransaction medium belongs to a particular set of blockchain transactionmediums. Numerous different sets of blockchain transaction mediums maybe identified using the process of FIG. 13.

FIG. 14 illustrates a method for tracking ownership of a set ofblockchain transaction mediums dedicated to a common commitment, inaccordance with a representative embodiment.

The process of FIG. 14 begins at S1410 with identifying a firstidentifiable characteristic of a first blockchain transaction medium ofa set.

At S1420, the process of FIG. 14 includes validating the firstblockchain transaction medium as belonging to the set based onidentifying the first identifiable characteristic.

At S1430, the process of FIG. 14 includes identifying a recipient of thefirst blockchain transaction medium upon an exchange of the firstblockchain transaction medium in a transaction. For example, therecipient may be identified based on an instruction provided with thefirst blockchain transaction medium in the transaction. Alternatively,the recipient may be identified based on an instruction in the firstblockchain transaction medium. The recipient may alternatively beidentified based on an instruction in the first blockchain transactionmedium.

At S1440, the process of FIG. 14 includes notifying an originator of theset of blockchain transaction mediums of the recipient of the firstblockchain transaction medium. For example, the originator may benotified by an electronic message to a predetermined electroniccommunications address that is provided with the instruction(s) toidentify the recipient at S1430.

FIG. 15 illustrates a wallet user interface displaying transactionrecords for blockchain-based transaction mechanisms, in accordance witha representative embodiment.

As shown, the display 2053 shows a display labelled “Transactions”. Thefields for the transactions shown in FIG. 15 include Transaction ID,TimeStamp, Sender, Recipient, Type, Pool Value and Set Value.

The Transaction ID shown in the display 2053 of FIG. 15 may be a numericidentification, an alphabetic identification, or a combined alphanumericidentification specific to a transaction involving a blockchaintransaction medium. The Transaction ID may also include anidentification specific to the blockchain transaction medium, such as anidentification number within a numbering system for the set ofblockchain transaction mediums created for a particular commoncommitment.

The TimeStamp shown in the display 2053 of FIG. 15 may include a timeand date of the transaction and may appear as one set of information forthe time and another set of information for the date.

The Sender shown in the display 2053 of FIG. 15 may include acommunications address of a sender, an identification of the sender,and/or any other information that may be used to identify and/orcommunicate with the sender. For example, an identification of thesender may be a user identification unique within user identificationsfor a system that provides wallets as described herein. Anidentification of the sender may also be an identification such as aname, social security number, drivers license number, of otheridentification specific to a particular sender in a transaction.

The Recipient shown in the display 2053 of FIG. 15 may include acommunications address of a recipient, an identification of therecipient, and/or any other information that may be used to identifyand/or communicate with the recipient. For example, an identification ofthe recipient may be a user identification unique within useridentifications for a system that provides wallets as described herein.An identification of the recipient may also be an identification such asa name, social security number, drivers license number, of otheridentification specific to a particular recipient in a transaction.

The Type shown in the display 2053 of FIG. 15 may specify a type of theunderlying blockchain transaction protocol for the blockchaintransaction medium used in the transaction. For example, a Type mayspecify Bitcoin, Ethereum, or another type specific to a type ofblockchain transaction mediums.

The Pool Value shown in the display 2053 of FIG. 15 may be the defaultvalue for the most recent reported transactions involving the Type ofblockchain transaction medium and may be the unit value of suchblockchain transaction mediums expressed in dollars or another currency.

The Set Value shown in the display 2053 of FIG. 15 may be the valueparticular to the set that includes the blockchain transaction medium inany particular transaction shown in the display 2053 of FIG. 15. Forexample, each different set of dedicated blockchain transaction mediumscreated among a larger pool of blockchain transaction mediums may beidentified with a particular set identification, and transactionsinvolving blockchain transaction mediums in the set may involvevaluations that float away from the default values for the larger pool.

FIG. 16 illustrates another process flow for blockchain-basedtransaction mechanisms, in accordance with another representativeembodiment.

In FIG. 16, the process starts at S1610 with creating one or morecontributor node(s) and a royalty agreement for each contributor node.

At S1615, the process includes defining issuance limits for blockchaintransaction mediums for each contributor node created at S1610.

At S1620, the process includes creating a class of blockchaintransaction mediums for each contributor node created at S1610.

At S1630, the process includes distributing blockchain transactionmediums to contributors in each contributor node according to the classof blockchain transaction mediums created for each contributor node.

At S1640, the process includes enabling exchanges of blockchaintransaction mediums by class.

At S1650, the process includes tracking ownership of each blockchaintransaction medium as the blockchain transaction mediums are exchanged.

At S1660, royalties are received.

At S1670, the process includes pooling or distributing royalty returnsby class of blockchain transaction medium, per the royalty agreement foreach contributor node.

In accordance with some embodiments consistent with the description ofFIG. 16, a method for distributing royalties for a set of blockchaintransaction mediums dedicated to a common commitment may includereceiving notification of a royalty due to holders of the set ofblockchain transaction mediums. The method may also include obtainingupdated identifications of current owners of each of the set ofblockchain transaction mediums and distributing the royalty to or onbehalf of the current owners of the set of blockchain transactionmediums. For example, the royalty may be distributed to a pool held onbehalf of the owners of the set of blockchain transaction mediums. Theroyalty may be distributed to electronic accounts of each of the ownersof the set of blockchain transaction mediums. As explained already,valuations of the set of blockchain transaction mediums may float on thefree market based on the royalties due to the set of blockchaintransaction mediums and may be allowed to diverge from valuations ofother blockchain transaction mediums of the same type as the set ofblockchain transaction mediums.

In accordance with some embodiments consistent with the description ofFIG. 16, a method for distributing royalties for a set of blockchaintransaction mediums may include updating an electronic wallet that holdsat least one of the set of blockchain transaction mediums to reflectpricing of the set of blockchain transaction mediums based on alast-reported transaction in which another of the set of blockchaintransaction mediums was exchanged. For example, when the blockchaintransaction mediums in a specific set are transacted in an electronicexchange, the pricing for the transaction may be reported so thatelectronic wallets that hold or otherwise control other blockchaintransaction mediums of the set can obtain updated pricing.

FIG. 17 illustrates a royalty arrangement for blockchain-basedtransaction mechanisms, in accordance with another representativeembodiment.

In FIG. 17, a first contributor node #1 1706 generates first royalties,a second contributor node #2 1707 generates second royalties, and athird contributor node #3 1708 generates third royalties. The firstcontributor node #1 1706 is designated to receive a portion of theroyalties it generates, the second contributor node #2 1707 isdesignated to receive a portion of the royalties it generates, and thethird contributor node #3 1708 is designated to receive a portion of theroyalties it generates. A group node 1705 does not itself generateroyalties but is also designated to receive a portion of royaltiesgenerated by the first contributor node #1 1706, the second contributornode #2 1707, and the third contributor node #3 1708. According to theroyalty arrangement of FIG. 17, a first royalty pool #1 for thecontributor node #1 1706 includes the contributor node #1 portion plus agroup node portion. The second royalty pool #2 for the contributor node#2 1707 includes the contributor node #2 portion plus a group nodeportion. The third royalty pool #3 for the contributor node #3 1708includes the contributor node #3 portion plus a group node portion.Accordingly, even if one of the first contributor node #1 1706, thesecond contributor node #2 1707 and the third contributor node #3 1708does not generate royalties, the contributors to any such contributornode will still be entitled to a portion of royalties distributed fromthe group node 1705.

FIG. 18 illustrates a hybrid token pool and timeline for the token poolfor blockchain-based transaction mechanisms, in accordance with anotherrepresentative embodiment.

In FIG. 18, a predefined token pool 2105 includes tokens from token #11811 to token #X 181x. The predefined token pool 1805 is created for oneof the contributor nodes in FIG. 17. The tokens are distributed eitherall at once at T1, or according to a preset arrangement at differenttimes including T1, T2 and perhaps other times. At T3, royalties arereceived for the corresponding contributor node, and distributedaccording to the preset arrangement. The royalties may be allocated foreach token in the predefined token pool 1805 or may be limited to tokensdistributed already from the predefined token pool 1805 at the time theroyalties are received.

Alternatively, in the embodiment of FIG. 18, the royalties may bereceived at T3 but retained in an account assigned to the owners oftokens in the predefined token pool 1805. When the tokens of thepredefined token pool 1805 are exchangeable in transactions, the valueof the tokens of the predefined token pool 1805 may vary based on theexpectations of the amount of royalties to be allocated for the tokensof the predefined token pool 1805. As explained for earlier embodiments,the tokens of a predefined token pool 1805 may also have a base valuethat varies for a larger group of tokens from which the tokens of thepredefined token pool 1805 are created.

Accordingly, blockchain-based transaction mechanisms enable automatedrepurposing of digital currencies of various types to mark and use forspecific purposes such as for transaction mediums to which royalties maybe allocated. The marking may be provided in various ways includingthrough use of blockchain mechanisms, though blockchain-basedtransaction mechanisms as described herein are not limited toblockchains or blockchain-based digital currencies.

Although blockchain-based transaction mechanisms have been describedwith reference to several exemplary embodiments, it is understood thatthe words that have been used are words of description and illustration,rather than words of limitation. Changes may be made within the purviewof the appended claims, as presently stated and as amended, withoutdeparting from the scope and spirit of blockchain-based transactionmechanisms in its aspects. Although blockchain-based transactionmechanisms has been described with reference to particular means,materials and embodiments, blockchain-based transaction mechanisms isnot intended to be limited to the particulars disclosed; ratherblockchain-based transaction mechanisms extends to all functionallyequivalent structures, methods, and uses such as are within the scope ofthe appended claims.

The illustrations of the embodiments described herein are intended toprovide a general understanding of the structure of the variousembodiments. The illustrations are not intended to serve as a completedescription of all of the elements and features of the disclosuredescribed herein. Many other embodiments may be apparent to those ofskill in the art upon reviewing the disclosure. Other embodiments may beutilized and derived from the disclosure, such that structural andlogical substitutions and changes may be made without departing from thescope of the disclosure. Additionally, the illustrations are merelyrepresentational and may not be drawn to scale. Certain proportionswithin the illustrations may be exaggerated, while other proportions maybe minimized. Accordingly, the disclosure and the figures are to beregarded as illustrative rather than restrictive.

One or more embodiments of the disclosure may be referred to herein,individually and/or collectively, by the term “invention” merely forconvenience and without intending to voluntarily limit the scope of thisapplication to any particular invention or inventive concept. Moreover,although specific embodiments have been illustrated and describedherein, it should be appreciated that any subsequent arrangementdesigned to achieve the same or similar purpose may be substituted forthe specific embodiments shown. This disclosure is intended to cover anyand all subsequent adaptations or variations of various embodiments.Combinations of the above embodiments, and other embodiments notspecifically described herein, will be apparent to those of skill in theart upon reviewing the description.

The Abstract of the Disclosure is provided to comply with 37 C.F.R. §1.72(b) and is submitted with the understanding that it will not be usedto interpret or limit the scope or meaning of the claims. In addition,in the foregoing Detailed Description, various features may be groupedtogether or described in a single embodiment for the purpose ofstreamlining the disclosure. This disclosure is not to be interpreted asreflecting an intention that the claimed embodiments require morefeatures than are expressly recited in each claim. Rather, as thefollowing claims reflect, inventive subject matter may be directed toless than all of the features of any of the disclosed embodiments. Thus,the following claims are incorporated into the Detailed Description,with each claim standing on its own as defining separately claimedsubject matter.

The preceding description of the disclosed embodiments is provided toenable any person skilled in the art to practice the concepts describedin the present disclosure. As such, the above disclosed subject matteris to be considered illustrative, and not restrictive, and the appendedclaims are intended to cover all such modifications, enhancements, andother embodiments which fall within the true spirit and scope of thepresent disclosure. Thus, to the maximum extent allowed by law, thescope of the present disclosure is to be determined by the broadestpermissible interpretation of the following claims and their equivalentsand shall not be restricted or limited by the foregoing detaileddescription.

1. A method for dedicating a set of transaction mediums to a commoncommitment, the method comprising: obtaining a set of transactionmediums at a first networked transaction node; individually transactingeach of the transaction mediums from the first networked transactionnode to a second networked transaction node, and individually,separately and uniquely marking each of the transaction mediums with afirst identifiable characteristic dedicated only to the set oftransaction mediums.
 2. The method of claim 1, wherein the firstidentifiable characteristic is based on an identification of a firstspecific computer at the first networked transaction node or a secondspecific computer at the second networked transaction node.
 3. Themethod of claim 1, wherein the first identifiable characteristic isbased on sequential movement of the transaction mediums from the firstnetworked transaction node to the second networked transaction node. 4.The method of claim 1, wherein the first identifiable characteristic isbased on at least one of a specific date or a specific time that thetransaction mediums are held at a first specific computer at the firstnetworked transaction node.
 5. The method of claim 1, furthercomprising: validating a total count of transactions involving thetransaction mediums at the first networked transaction node.
 6. Themethod of claim 1, wherein rights to receive payments are correlatedwith the transaction mediums.
 7. The method of claim 1, furthercomprising: notifying an issuer of each transaction medium of eachtransaction involving the transaction medium.
 8. The method of claim 1,wherein the first identifiable characteristic uniquely marks the set oftransaction mediums distinguishable from any and all other transactionmediums of the same type.
 9. The method of claim 1, wherein the firstidentifiable characteristic is recorded in a blockchain, and the set oftransaction mediums comprise a set of blockchain transaction mediums.10. A method for dedicating sets of transaction mediums to commoncommitments, the method comprising: assigning a first set of transactionmediums to a first common commitment from a pool of transaction mediumsthat includes the first transaction mediums, second transaction mediumsand other transaction mediums; dedicating the first set of transactionmediums to the first common commitment; assigning a second set oftransaction mediums to a second common commitment from the pool oftransaction mediums; dedicating the second set of transaction mediums tothe second common commitment, and transacting at least one of the firstset of transaction mediums in isolation from the second set oftransaction mediums and from the other transaction mediums in the poolof transaction mediums.
 11. The method of claim 10, wherein the firstset of transaction mediums are exchangeable in transactions at a firstvalue common to the pool of transaction mediums, and at a second valuecommon only to the first set of transaction mediums, and wherein thesecond set of transaction mediums are exchangeable in transactions atthe first value common to the pool of transaction mediums, and at athird value common only to the second set of transaction mediums. 12.The method of claim 10, further comprising: receiving notification of aroyalty due to holders of the first set of transaction mediums;obtaining updated identifications of current owners of each of the firstset of transaction mediums; distributing the royalty to or on behalf ofthe current owners of the first set of transaction mediums.
 13. Themethod of claim 12, wherein the royalty is distributed to a pool held onbehalf of the owners of the first set of transaction mediums.
 14. Themethod of claim 12, wherein the royalty is distributed to electronicaccounts of each of the owners of the first set of transaction mediums.15. The method of claim 12, wherein valuations of the first set oftransaction mediums float based on the royalties due to the first set oftransaction mediums and are allowed to diverge from valuations of othertransaction mediums of the same type as the first set of transactionmediums.
 16. The method of claim 10, wherein the first set oftransaction mediums are uniquely marked with a unique characteristicthat to be distinguishable from any and all other transaction mediums ofthe same type.
 17. The method of claim 16, wherein the uniquecharacteristic is recorded in a blockchain, and the first set oftransaction mediums comprise a set of transaction mediums.
 18. A methodfor transacting a set of transaction mediums dedicated to a commoncommitment, the method comprising: identifying a first identifiablecharacteristic on a first transaction medium of the set; validating thefirst transaction medium as belonging to the set based on identifyingthe first identifiable characteristic; and exchanging the firsttransaction medium in a transaction based on validating the firsttransaction medium as belonging to the set.
 19. The method of claim 18,further comprising: notifying an originator of the set of transactionmediums of the transaction including an identity of a recipient of thefirst transaction medium.
 20. The method of claim 18, wherein the firstidentifiable characteristic uniquely marks the set of transactionmediums distinguishable from any and all other transaction mediums ofthe same type.